Indiaâ€™s 3G WCDMA Spectrum Auction Bids Climb Over $1 Billion
It appears that the 3G WCDMA spectrum auction in India is moving along swiftly as according to an article over on daily markets reports that the bidding price has reportedly climbed to INR45.8 billion which is roughly about $1.03 billion.
The figure is about 31 percent above the floor price which is set by the Indian Department of Telecommunications that was at INR35 billion, roughly $791 million. Up for auction are 3 to 4 slots of 3G spectrum in the 2.1 GHz band in 22 service areas known as “circles” in India, and it looks like the limited quantity of licence slots is pushing the bidding price.
The Western Indian state of Gujarat headed the chart bidding virtually INR4.6 billion, about $104 million after 22 rounds of auction, and exceeding the bid in key Metro service areas. The Mumbi recorded a bid of INR4.17 billion roughly $94 million while the Delhi circle hit the top among the Metro circles receiving a bid of INR4.17 billion about $94 million.
There are 9 bidders in total for the 3G spectrum and includes Vodafone Essar, Bharti Airtel, Idea Cellular, Reliance Communications, Tata Teleservices, and Aircel.
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