India planning a third round of spectrum auction

NEW DELHI Mon Feb 18, 2013 6:50pm IST

Telecommunication towers are pictured through hanging flower pots at a residential building in Kolkata December 11, 2012. REUTERS/Rupak De Chowdhuri/Files

Telecommunication towers are pictured through hanging flower pots at a residential building in Kolkata December 11, 2012.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - India plans to hold a third round of auction of unsold mobile phone airwaves in 18 telecommunication zones immediately after it completes a sale in other zones in March, to comply with a court order, a senior government official said on Monday.

The telecommunications ministry is also considering increasing the quantum of airwaves it has put on block in the Karnataka and Rajasthan zones in the auction due in March, R. Chandrashekhar, secretary at the ministry said.

The Supreme Court last week directed the government to auction all airwaves that would be vacated after cancellation of 122 zonal permits, which it had earlier ordered to be revoked after a massive scandal over a 2008 sale.

Sale of mobile radio spectrum along with stake sales in state-run companies is crucial for the government's plan to cut its fiscal deficit. But an airwave auction in November raised less than a quarter of its target of $7.4 billion as companies stayed away saying the minimum bid price was too high.

The government is auctioning airwaves in March in four zones -- Delhi, Mumbai, Karnataka and Rajasthan -- that did not get any bids in the November auction.

Chandrashekhar said the quantum of airwaves being sold in the Delhi and Mumbai zones were already compliant with the court order.

(Reporting by Devidutta Tripathy; Editing by G.Ram Mohan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage