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India: After two false starts, spectrum bidding yields $7B

By  |  February 4, 2014

India received bids amounting to more than $7 billion on the first day of the government-run spectrum auction, reports say.

The auction is the third attempt in the last 15 months to raise funds through such a tender.

Eight telcos, including Vodafone and Bharti Airtel, competed in the bidding that amounted to $7.12 billion in offers. It was a major success for the government which experienced two failed spectrum auctions after a price floor discouraged bidding competition.

Reports say authorities lowered the minimum bid this time around.

Bharti and Vodafone are likely to continue their competitive acquisition of airwaves as their licenses will expire next year.

Full Content: Businessweek

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