June 11 (Reuters) – Reliance Industries (RELI.BO), India’s largest-listed conglomerate, will pay Infotel Broadband Services’ broadband spectrum fees, a source with direct knowledge of the matter said on Friday.
Energy | Telecommuncations Services
Unlisted Infotel Broadband Services is paying 128.48 billion rupees ($2.7 billion) for the spectrum, the government says, after it became the only firm to win broadband spectrum in all 22 zones in India in an auction that ended on Friday.
Reliance Industries said on Friday it agreed to buy Infotel for about $1 billion. (Reporting by Pratish Narayanan; Editing by Unnikrishnan Nair)