2G auction ends with poor response
Complying Supreme Court orders, the recent auction process of 290 megahertz of 2G spectrum began on Monday and the bid worth Rs. 9,407 crores fetched by Government compared to expected Rs. 40,000 crores revenue projected by CAG. The details posted by Department of Telecommunications confirms the end of auction after 14 rounds. The auction for 2G spectrum for all 22 circles seen a poor response and half of the spectrum on offer remain unsold. The key metros Mumbai and Delhi, and circles Karnataka and Rajasthan had no bidders. Also no bidder took interest in acquiring an all-India licence considering the costly base price of Rs. 14,000 crore for 5 MHz of 2G spectrum. Idea Cellular and Videocon won the spectrum in seven circles whereas Telenor managed to bag it in six circles. Vodafone and Bharti Airtel won spectrum in one circle each.
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