Five firms to bid for telecom spectrum on Nov 12
Bharti Airtel, Idea, Vodafone, Videocon and Telenor-promoted Telewings are the five companies that will compete for the GSM spectrum in 1800 Mhz band in the auction slated to begin on November 12, according to the Department of Telecom.
November 07, 2012 / 10:42 IST
Bharti Airtel, Idea, Vodafone, Videocon and Telenor-promoted Telewings are the five companies that will compete for the GSM spectrum in 1800 Mhz band in the auction slated to begin on November 12, according to the Department of Telecom.
The government is conducting auction of spectrum in 1800 Mhz band following cancellation of 122 telecom licences by the Supreme Court in February in the 2G scam case.The government aims to garner a total Rs 40,000 crore from the auction of spectrum and levy of other charges on the airwaves. The receipts are important for the government, which is faced with huge task of managing the widening fiscal deficit.However, in a blow to the government's plans of revenue earnings, Tata Teleservices and Videocon has dropped out from the auction of for CDMA spectrum, leaving no bidder in fray for the 800 Mhz band.As per the list of final bidders released by the DoT, Aditya Birla-promoted Idea Cellular has maximum eligibility points (1594), which enable it to bid for airwaves in the highest number of telecom circles.Eligibility points have been decided according to the earnest money deposited with DoT by players.Idea is followed by Telewings Communications promoted by Telenor (1,332 eligibility points), Videocon (788) and Vodafone (276).Bharti Airtel deposited the least earnest money, which indicates that the telecom major will bid in selected circles.The auction which will start on November 12 has to be completed by January 11. The Supreme Court has asked the government to complete the auction process by January 11.Also read: Bharti Airtel Q2 PAT seen up 9% to Rs 831 cr Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
