India's Idea Cellular to bid in upcoming spectrum auction-source

Fri Oct 19, 2012 4:00am EDT

Oct 19 (Reuters) - India's Idea Cellular will bid in an upcoming auction of second-generation airwaves, a company source said on Friday, as the country's third biggest mobile phone carrier by revenue strives to restore its nationwide footprint.

Idea is set to lose seven of its permits after the Supreme Court order to revoke all licences awarded in a scandal-tainted process in 2008 and the auction is the last chance for the company to win them back.

"We are in the process of submitting our application," the source said, who declined to be named as the information was not public yet.

Friday is the deadline for companies to submit their application to participate in the auction, scheduled to start from Nov. 12. (Reporting by Devidutta Tripathy; Editing by Anupama Dwivedi)