Bids for one all-India 3G licence reach Rs7,900 cr

Bids for one all-India 3G licence reach Rs7,900 cr

New Delhi: Bids for one set of nationwide third-generation (3G) mobile spectrum licences reached Rs7,900 crore ($1.78 billion), or 126%, above the base price, on the thirteenth day of an auction, government data showed.

Seventy-six rounds of bidding had been completed by Saturday, the Department of Telecommunications (DoT) said on its website. The auction started on 9 April and is still on.

The base price for one set of pan-India licences had been set at Rs3,500 crore.

The government will sell four such licences -- three from the auction and one set to the state-run telecom firms who would have to match the highest bid price paid by the private operators.

Nine mobile operators, including Bharti Airtel, Reliance Communications and Vodafone’s Indian unit, are participating in the auction.

There is no bidding on Sunday. The auction resumes on Monday.