EGoM ratifies DoT decision on 100% foreign cos eligibility

The Empowered of Ministers (EGoM) has ratified department of telecommunications (DoT) decision on 100% foreign companies’ eligibility, reports CNBC-TV18's Malvika Jain quoting sources.

The EGoM has finally ratified the decision of the DoT to allow 100 percent foreign owned companies to participate in the auction. The licenses will be granted to them as was done in the case of 3G only after they have an Indian partner but for now they can participate in the upcoming 2G auction. The issue of one time spectrum fee was also discussed in the EGoM. It was then decided that it is only after receiving an opinion from the Attorney General and from the law ministry a final decision in this regard will be taken. So, now the EGoM is going to meet on the October 8, until then the ministry will also receive the opinion of the AG and the law ministry and then take a final decision. The EGoM was also apprised of the decisions of the government as far as grant of contiguous spectrum to cancel the telecom companies is concerned. EGoM was also apprised of the UL license and also the fact that three additional top up blocks maybe auctioned in the upcoming, during the process of bidding if a need so arises.