EGoM eases restrictions on bidding ahead of spectrum auctions

EGoM eases restrictions on bidding ahead of spectrum auction
The Empowered Group of Ministers (EGoM) on telecom on Friday eased some restrictions on bidding for 2G spectrum ahead of auctions in the current quarter.

The telecom minister Kapil Sibal said that it has decided to remove the limit on maximum number of blocks for the operators in the upcoming auction, following which it would be allowed to bid for as many blocks they want depending on availability.

However, the restriction of bidding up to 25 per cent of entire spectrum on auction will remain, Sibal said.

The move has come to let the bidders aggressively bid in the auctions as restrictions on numbers of blocks poses hurdles. Amid such restrictions and high base price, the government previously failed to auction the spectrum and ended up raising around Rs 9,000 crore as compared to the target of Rs 40,000 crore.

"The whole agenda (of NIA) has been approved and we are now going ahead with the auction as proposed," Sibal said.

Read more about: egom
Story first published: Saturday, February 2, 2013, 9:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?