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Vodafone's Indian unit spent $3 billion-plus in spectrum auction - source
October 6, 2016 / 5:06 PM / a year ago

Vodafone's Indian unit spent $3 billion-plus in spectrum auction - source

A man speaks on his mobile phone next to a Vodafone advertisement in Kolkata, India, September 26, 2016. REUTERS/Rupak De Chowdhuri/Files

(Reuters) - Vodafone Group’s (VOD.L) Indian unit has bought spectrum worth more than 200 billion rupees ($3 billion) in a government auction that ended on Thursday, a source with knowledge of developments told Reuters.

India’s telecoms ministry announced the results of the auction, which raised a total of $9.9 billion for the government, but did not immediately provide a breakdown of payments by individual operators.

($1 = 66.6809 Indian rupees)

Reporting by Devidutta Tripathy; Editing by David Goodman

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