The $84 bn dilemma vexing India's telecom tycoons

After racking up $59 billion of net debt to survive a brutal war in the world’s second-biggest phone-services market, some of India’s billionaires are bracing for more as their next battle looms: 5G. India seeks to raise $84 billion this year from a sale of airwaves -- most of it for the new technology tipped to revolutionize connectivity.

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