3G spectrum auction on track, bidding to begin April 9
The auction for 3G and broadband wireless spectrum is on track and as many as 20 bidders will slug it out later this week for the coveted spectrum, reports CNBC-TV18′s Siddharth Zarabi.
It has been three years in the making and is now finally set to happen later this week. The path breaking auction of 3G and broadband wireless spectrum will begin on April 9. This is the first time that a government asset is being auctioned electronically through a dedicated platform in India. NM Rothschild & Sons (India) and Dotecon are advising the government on the auctions.
There are nine bidders in the fray for the three-four 3G spectrum slots on offer and 11 bidders in the fray for two broadband wireless slots.
As many as six companies have bid for both 3G and broadband slots and these are the ones who will try and bid aggressively to win the coveted spectrum.
As a result, the bids are expected to be significantly higher than the reserve price due to the intense competition.
The Department of Telecom is conducting a two-day mock e-auction process that ends on Tuesday for various stakeholders.
The bidders and government officers include the likes of Sam Pitroda, Adviser to the Prime Minister, Deepak Parekh, Chairman HDFC, Pratyush Sinha, CVC, JS Sarma, Chairman, TRAI and Finance Secretary Ashok Chawla among others.
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