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India falls short of target in mobile airwaves sale

Source : REUTERS
Last Updated: Wed, Nov 14, 2012 14:20 hrs

NEW DELHI, Nov 14 (Reuters) - India received bids worth about 94 billion rupees ($1.7 billion) in an auction of 2G (second generation) mobile phone airwaves, the telecommunications minister, Kapil Sibal, said, managing to raise less than one quarter of i ts sale target.

India's first sale of 2G mobile phone airwaves by auction came after the Supreme Court ordered the cancellation of permits that had been granted to eight carriers in a scandal-tainted process in 2008.

Five operators - Bharti Airtel, Vodafone Group Plc's local unit, Norway's Telenor ASA, Videocon Telecommunications, part of India's Videocon Industries , and Idea Cellular - had applied to participate in the auction.

($1 = 54.9700 Indian rupees) (Reporting by Arup Roychoudhury; Editing by Sumeet Chatterjee)




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