Bids for one set of nationwide third-generation (3G) mobile spectrum licences in India reached Rs 79 billion (USD 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 said on its website. The auction started on April 9 and is still on.
The base price for one set of pan-India licences had been set at Rs 35 billion.
The government will sell four such licences -- three from the auction and one set to the state-run telecoms 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.
($1=44.3 Indian rupees)
News From: http://www.7StarNews.com
Sunday, April 25, 2010
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