Government to Auction Airwaves Valued at $11.6 Billion to Boost Phone Networks

Government to Auction Airwaves Valued at $11.6 Billion to Boost Phone Networks

India’s federal cabinet Thursday approved a plan for selling airwaves in an auction to improve quality and coverage of networks in the world’s second-biggest telecom market. The government will sell airwaves valued 963.2 billion rupees ($11.6 billion) at reserve price, according to a statement from India’s Ministry of Communications. A…