India panel advices 30 pct base price cut for unsold airwaves auction

Last Updated: Sat, Dec 08, 2012 19:00 hrs

NEW DELHI, Dec 7 (Reuters) - A panel of Indian ministers has recommended a 30 percent cut in the base price for mobile phone airwaves in four telecommunication zones that were left unsold at an auction earlier this month, two government officials said on Friday.

The government had raised less than a quarter of its 400 billion rupees ($7.4 billion) target in the airwaves auction, and carriers, criticising the sale as too expensive, did not bid in four telecom zones, including the lucrative Delhi and Mumbai zones. ($1 = 54.2 rupees) (Reporting by Devidutta Tripathy)

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