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Bids of less than Rs 10,000 cr in 2G spectrum auction : Govt

Posted on Nov 14, 09:42PM | UNI

Auction of the 2G Spectrum ended here this evening with bids of less than Rs 10,000 crore received, much below the revenue targeted by the government, sources said.

As against a revenue of Rs 30,000 to 40,000 crore targeted by the government, the bids received were less than Rs 10,000 crore.

Sources said Videocon and Idea won spectrum in seven circles in the auction while Telenor got spectrum in four circles. Airtel and Vodafone won spectrum in one circle each.

However, there were no takers for the pan India spectrum with none of the five companies putting a bid for it.

The eGoM for Telecom had fixed the reserve price for pan India spectrum at Rs 14,000 crore for 5 Mhz of airwaves, which was termed as too high by telecom companies, the sources stated.

According to the sources, the lukewarm response to the auction was due to high base price of the spectrum, which was in sharp contrast to auction for 3G spectrum in 2010 that got bids of Rs 67,719 crore.