5G spectrum sale nears Rs 1.50 lakh crore mark on day 5

New Delhi, July 30: The auction of the 5G spectrum capable of offering ultra-high-speed internet garnered bids worth about Rs 1,49,966 crore on the fifth day of sale on Saturday and the bidding is expected to continue on Sunday.

The total value of bids in the telecom spectrum auction, which began on Tuesday, has come within striking distance of the Rs 1.50 lakh crore mark.

“The 5G auction shows that the industry wants to expand, it has come out of problems and is getting into a growth phase. The auction results are very good, close to Rs 1,49,966 crore has been committed by the industry for buying the spectrum,” Telecom Minister Ashwini Vaishnaw said at a briefing in Mumbai, after a telecom investors’ roundtable.