Indian Spectrum Auction Ends the Week at $9.1 Billion
Published on: 8th Feb 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
India's radio spectrum auction ended the 40th round and its 6th day with bidding topping Rs 56 555 crore (USD9.1 billion) with Delhi retaining the main focus from the big bidders.
As Bharti Airtel, Vodafone and Reliance Jio Infocomm fought over the Delhi licenses, the bidding more than doubled the reserve price for the circle. Kolkata also saw its prices edge up, although Mumbai's prices were flat for the second day running,
Even if the companies take up the deferred payment option, the government can expect to gain at least Rs 16,750 crore this financial year, which is higher than the government had expected for the entire auction proceeds.
Bidding will continue on Monday, when it will enter its second week and is already far longer than any commentators had expected.
The government is auctioning 385 Mhz of spectrum in the 1800 Mhz band and 46 Mhz of airwaves in the 900 Mhz band.