Telecom stocks drop after panel recommends re-farming
Shares of the Bharti Airtel was lower by 2.28%, Reliance Communications down 0.74%, MTNL slipped 1.77% and Idea Cellular edged lower by 0.31% on BSE at 11.15 am IST.
Telecom Secretary R Chandrashekhar said the existing operators will be allowed to bid in the auction of 900 MHz band, which is expected to take place in first half of 2013. If they are successful, they can retain the spectrum, he said.
"...If the same operator succeeds, he will retain it, if a new person succeeds, than the existing operator has 18 months to make his alternative plans and the new operator will have 18 months to put his infrastructure in place before he gets the spectrum," Chandrashekhar said.
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