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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google ExecAdmitted Firm’s Goal Was to “Crush” Digital Ad Rivals, According to Court Docs
Sep 11, 2024 by
CPI
Former Michigan Football Stars File $50 Million Antitrust Lawsuit Against NCAA
Sep 11, 2024 by
CPI
Oasis Fans Could Be in Line for Ticket Refunds Amid Antitrust Concerns
Sep 11, 2024 by
CPI
FCC Chair Calls for More Competition to SpaceX’s Starlink Network
Sep 11, 2024 by
CPI
Singapore Salon Director Jailed for Contempt in Consumer Protection Case
Sep 11, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI