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Broadband bids reach $2.72 bn on 15th day

Broadband bids reach $2.72 bn on 15th day
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First Published: Thu, Jun 10 2010. 07 43 PM IST
Updated: Thu, Jun 10 2010. 07 43 PM IST
New Delhi: Bids for one set of nationwide wireless broadband spectrum licences in India totalled Rs12,775 crore ($2.72 billion) on Thursday, in what is likely to be the last week of the auction.
The current auction follows the one for third-generation (3G) spectrum that ended on 19 May, after 34 days of bidding. That sale fetched Rs67,700 crore in revenue for the government.
Eleven firms, including India’s top three telecom firms -- Bharti Airtel, Reliance Communications and Vodafone Essar -- and US chipmaker Qualcomm Inc are bidding for broadband spectrum.
The auction started on 24 May, with a base price for one set of all-India wireless broadband spectrum licences at Rs1,750 crore. As of Thursday, the auction had gone 116 rounds over 15 days.
Two all-India broadband licences are on offer for private firms, while a third set has been reserved for state-run firms, which would have to match the final bid prices.
At the current bid prices, the government could get revenues worth about Rs38,300 crore from the three sets of licences.
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First Published: Thu, Jun 10 2010. 07 43 PM IST