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India receives bids worth over $1.7 bln in airwaves sale so far
November 12, 2012 / 12:20 PM / in 5 years

India receives bids worth over $1.7 bln in airwaves sale so far

MUMBAI, Nov 12 (Reuters) - India has received bids worth more than 92 billion rupees ($1.68 billion) by the end of the fifth round in an auction of 2G mobile phone airwaves that started on Monday, telecommunications secretary R. Chandrashekhar said.

The government had set a bid starting price of 140 billion rupees ($2.6 billion) for 5 megahertz of airwave space in all of India’s 22 telecommunications zones. The base price was more than seven times what carriers paid in 2008.

There have been no bids so far in the Delhi, Mumbai, Karnataka and Rajasthan zones, Chandrashekhar said. ($1 = 54.7550 Indian rupees) (Reporting by Arup Roychoudhury; Editing by Sunil Nair)

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