India spectrum bids hit INR 600 bln on 1st auction day

Thursday 5 March 2015 | 10:27 CET | News
The Indian government received bids worth an overall INR 600 billion on the first day. The bidding process will resume on 6 March, as the government expects to raise over INR 820 billion in this spectrum auction, The Economic Times reports. Bharti Airtel, Vodafone India, and Idea Cellular placed their bids to secure spectrum in circles where their licenses are due to expire. "The bidding has taken place in all bands. At present, a value of approximately 60, 000 crores has been committed by bidders against the value (at reserve price) of around 49,000 crores of provisionally won spectrum," the

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Categories: Mobile & Wireless
Companies: Aircel / Airtel / Bharti Airtel / Idea Cellular / RCom / Reliance Communications / Tata Teleservices / Uninor / Vodafone / Vodafone India
Countries: India
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