Friday, November 16, 2012

India Telecom Spectrum Auction Generates $1.71 Billion

NEW DELHI?An Indian unit of Telenor ASA was among five companies that won telecom bandwidth Wednesday through an auction that will generate 94.07 billion rupees ($1.71 billion) in revenue for a government that is hard pressed to narrow its fiscal deficit.

The local units of Norway's Telenor and U.K.'s Vodafone Group PLC, as well as Bharti Airtel Ltd., Idea Cellular Ltd. and Videocon Industries Ltd. unit Videocon Telecommunications Ltd. were in the running for the bandwidth.

Telenor's India unit will have to pay 40.18 billion rupees for the spectrum it has won in six of India's 22 telecom service areas, ...

Source: http://online.wsj.com/article/SB10001424127887324556304578119781407402430.html?mod=asia_home

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