When the leading telecom players are drawing plans to offer 3G services, Mukesh Ambani-led RIL on Friday announced it can offer fourth generation 4G wireless services after acquiring Infotel which bagged 20 MHz of Broadband Wireless Access nation-wide spectrum.
Infotel, acquired by RIL, was the only successful bidder in all of the 22 circles in the BWA auction conducted. The 20 MHz, contiguous, pan-India spectrum secured by RIL through this stake is an extremely valuable resource..
RIL paid Rs. 4,800 crore for acquiring 95 per cent stake in Infotel by way of creating fresh capital and on top of this the company would be paying over Rs. 12,872 crore to the government towards spectrum fees.