Reliance Industries has bought a Majority Stake in Infotel Broadband [ 95% Stake ] for Rs 4,800 crore.[exact total price info not yet available]
Infotel of Mahendra Nahata, HFCL [ Himachal Futuristic Communications Limited ] which had BWA License for all circles in the BWA Auction which had Ended a few hours back after 16 Days of Auction
Infotel has to pay Rs 12,848 crore approx for the License it had won in the BWA Auction .
Govt. run operators BSNL & MTNL had already got the spectrum & has to match the highest bedder in the auction .
Two Slots were up for grab in the Auction for private operators