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Telecom auction gets `60,000 cr bids on Day 1
Telecom Auction Gets 60,000 cr Bids On Day 1. The biggest ever auction of 2G and 3G airwaves on Wednesday began on a high note with operators making bids worth an estimated Rs 60,000 crore after six rounds of bidding in all four bands.
New Delhi: The biggest ever auction of 2G and 3G airwaves on Wednesday began on a high note with operators making bids worth an estimated Rs 60,000 crore after six rounds of bidding in all four bands. The bidding will resume on Thursday morning in the auction through which the government was expecting to raise over Rs 82,000 crore. The final amount may go much higher if bids continue at such an aggressive pace. "Six rounds of bidding were concluded today with bids worth Rs 60,000 crore coming in all the four bands on offer," a source privy to the development said. Incumbent Bharti Airtel and Vodafone are locked with upstart carrier Reliance Jio of billionaire Mukesh Ambani to protect their spectrum they need to carry voice and data in the world's second-biggest smartphone market. In all, eight bidders are in fray.
