(March 2): Bharti Airtel Ltd, India’s second-largest wireless carrier by subscribers, will spend US$2.6 billion acquiring new airwaves in an ongoing spectrum auction in India. The carrier, led by billionaire Sunil Mittal, acquired airwaves worth 186.99 billion rupees (US$2.55 billion), according to a statement from the company Tuesday. It added 355.45 megahertz to its spectrum portfolio and can now reach 90 million additional customers, it said. Shares rose as much as 2.2% after the announcement, most in over a week. The ongoing spectrum auction that raised 771.5 billion rupees as of Monday is a boost to the exchequer as the government tries to jump start the economy after the pandemic-induced recession last year. The newly acquired airwaves will also bolster Bharti’s telecom infrastructure as it gears to roll out 5G services in the country and claw back market share from top rival, Mukesh Ambani’s Reliance Jio Infocomm Ltd.