No plans to enter telecom sector, says Adani Group : The Tribune India

No plans to enter telecom sector, says Adani Group

No plans to enter telecom sector, says Adani Group


New Delhi, January 19

Indian conglomerate Adani Group, owned by billionaire Gautam Adani, said on Thursday it does not have any plans to enter the country’s telecom sector.

Adani has been diversifying his empire from ports to energy to now owning a media company. However, the Adani Group has stayed away from India’s telecom sector, where rival Mukesh Ambani’s Jio became a dominant player by offering low-cost services since its debut in 2016.

“We have no plans or ambitions in telecom,” Jugeshinder Singh, Adani Group’s chief financial officer, said at a press conference in Mumbai. Adani Enterprises’ unit Adani Data Networks purchased airwaves worth nearly $27 million in the country’s 5G auction last year.

The group’s expansion into cement and healthcare sectors has also raised concerns over its elevated debt levels. — Reuters

Bought 5G airwaves worth $27 mn in ’22

  • Adani Enterprises’ unit Adani Data Networks purchased airwaves worth nearly $27 million in the country’s 5G auction last year
  • However, at that time, the company had said it did not plan to offer consumer services and was instead aiming to enter the private 5G network space

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