Bidding wars back? Reliance Jio move signals a spectrum of possibilities

Reliance Jio has submitted Rs 3,000 crore as earnest money deposit (EMD) for the upcoming spectrum auction scheduled to start on June 6. That’s almost three times that of Bharti Airtel and 10 times that of cash-strapped Vodafone Idea, underlining the market leader’s aggressive intent to grab airwaves, especially in those circles where rivals have to renew permits to continue offering seamless services, raising the prospect of bidding wars.