New Delhi, Feb 25 (Reuters) - Russian conglomerate Sistema's
Indian mobile phone unit is the only company that has
applied to bid in an airwaves auction due next month, a senior
government official said on Monday.
Earlier, Sistema Shyam TeleServices Ltd had said it had
applied to participate in the sale of spectrum in the 800
megahertz band, used by carriers operating on the CDMA (Code
Division Multiple Access) platform.
India is planning to sell airwaves worth at least 430
billion rupees ($7.9 billion) in three frequency bands in the
auction due to start March 11. The sale is seen as crucial to
helping the Indian government cut it fiscal deficit.
($1 = 54.2000 Indian rupees)
(Reporting By Devidutta Tripathy; Editing by Subhranshu Sahu)