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The final 2G auctions may have given the government a big reason to smile, but telecom companies, at their end, are not feeling as euphoric.
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The 2G auction is a big hit. After 10 days and 68 rounds the auctions drew to a close today. The centre has exceeded its target from the sale of spectrum. Total bids have crossed Rs 61,000 crore. This will fetch the government over Rs 18,000 crore this fiscal alone.
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Sanjay Kapoor, former CEO, Bharti Airtel believes operators will perhaps have to pass on the costs to consumers, leading to higher prices, considering services cannot continue to be cheap when raw material price is so high. But, Romal Shetty, ED & national head of KPMG says new entrants will make it tough for existing players to hike prices.
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Speaking to CNBC-TV18's Malvika Jain, Khullar said they were always upbeat about the auctions.
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In an interview with CNBC-TV18's Nayantara Rai and Shereen Bhan, Jaideep Ghosh of KPMG and Sanjay Kapoor, Former CEO, Airtel shared their views on the second day of 2G auctions
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The government's 2G auction plans get a blow. There are no takers for the 900 megahertz GSM spectrum in the upcoming auctions in March as Vodafone, Bharti Airtel and Idea have decided not to participate.
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The year 2012 will be remembered for many economic turmoils and hopes. India had its share of ups and down in issues ranging from rising inflation to depreciating rupee to a insipid 2G Auction
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The Reserve Bank of India (RBI) has relaxed overseas borrowing rules for successful bidders in the country's cellphone airwaves auction, making it easier for them to raise money to pay the cash-strapped government.
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Telecom stocks are slowly creeping back into the game. These beaten-down stocks have gained significantly in the last month. Both Bharti Airtel and Idea have gained almost 16% each since October 19, while Reliance Communication has risen 3% during the period.
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CPI(M) today countered the government's attack on CAG using the tepid response to 2G spectrum auction, saying it was due to saturation of demand for it and the availability of 3G spectrum in the market.
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Leader of Opposition in Rajya Sabha Arun Jaitely today said that failure of 2G auction was an indicator of how badly the economy was faring under the UPA government.
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Keeping up the government's attack on the CAG, Union Minister V Narayanasamy today said the top auditor owed an explanation on its estimated loss of Rs 1.76 lakh crore in 2G spectrum allocation in the previous auction.
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The government intends to hold an auction of mobile phone airwaves that were left unsold at a sale this week before March 31, the telecommunications minister, Kapil Sibal, said on Friday.
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India will struggle to meet its already swollen deficit target this year after a dismal response to this week's 2G auction and a battle to sell stakes in state companies, finance ministry officials privately concede.
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Vodafone India, which won bids in 14 circles, said it had participated in the 2G auction to secure additional spectrum. "Vodafone India has always maintained that auctions are the best and the only transparent method for allocation of spectrum.
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Marten Pieters, managing director and CEO, Vodafone India explains to CNBC-TV18's economy editor Siddharth Zarabi about the various aspects of the just-concluded 2G auction and his opinion on whether the spectrum was a success.
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In an interview to CNBC-TV18, independent telecom analyst Kunal Bajaj says it is inline with expectations. "Telecom operators have come out in unison and basically said that the reserve prices are indeed very high for almost all of the circles," he adds.
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Senior Supreme Court lawyer Harish Salve says there is a pervading sense of gloom among everyone who brings in money and invests in India.
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Chandrashekhar further added that the reserve price for 900 MHz to be fixed by the EGoM and the auction will be first focusing on 1,800MHz. The 900 MHz auction is to held between November 2012 and May 2013, he informed.
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Bharat Bhargava ,telecom practice partner, E&Y explains to CNBC-TV18 that the response to the 2G auction has been muted and adds that it is vital for operators rolling out LTE to have 2G and 3G support.
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Romal Shetty, national leader- telecom, KPMG and Amit Sachdeva, telecom-partner, E&Y explain to CNBC-TV18 that the response to 2G auction is muted and that it would be tough for the government to achieve its revenue target of Rs 40,000 core from the sale of spectrum.
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CNBC-TV18's Aakansha Sethi reports, quoting sources, that the low-cost foreign borrowing will be made available for the first upfront payment at the 2G auction
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Friday's joint press conference by Chidambaram, Union Telecom Minister Kapil Sibal and Union Law Minister Salman Khurshid is a grim reminder of a similar press conference held when Opposition had wanted the prime minister's resignation over coal scam.
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The telecom minister will take up the issue of ECB refinancing for 2G auction bidders with the finance ministry. The Department of Telecommunications (DoT) has clarified that there will be no adjustment of cancelled entry fee with bid dues.
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Sanju Verma, MD & CEO, Violet Arch Capital Advisors expects further EPS downgrades on Bharti Airtel post its disappointing first quarter performance.
