JOIN USReliance Industries Limited (RIL) is likely to bid for mobile telephone spectrum in the upcoming auction to complement its wireless broadband services with voice call facility.
The billionaire Mukesh Ambani-headed group is making a re-entry into the telecommunications business and is being talked as the most aggressive bidder in the November auction of telecom spectrum.
Sitting on a cash pile of Rs 70,732 crore at the end of the June quarter, RIL was the most notable participant at the pre-bid conference organised by the Department of Telecom (DoT) in the run-up to the auction. RIL is most likely to put a direct bid, a source said.
If, for some reason, it is unable to make a bid by itself, the company may fund purchase of spectrum by another company and then acquire it.