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India's Mobile Carriers Grab Costly Bandwidth at Auction

India's cellphone operators are snatching up precious bandwidth in a government sale, paying top dollar for spectrum to roll out high-speed coverage across the country. The fear among investors is that the companies' balance sheets may now be under pressure. The government had raised a record 1.07 trillion rupees ($17.07 billion) by the end of bidding on Tuesday in an auction that began on March 4. That's almost a third more than what the government had forecast for the entire...

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