Spectrum auction: Day-2 fetches govt Rs 65,000 cr

Spectrum auction: Day-2 fetches govt  Rs 65,000 cr

With the telecom operators bidding aggressively for both 2G and 3G spectrum, the government on Thursday received bids worth Rs 65,000 crore at the end of the second day of the auction of radio waves.

So far 11 bidding rounds have been completed and operators are bidding aggressively in the 900 Mhz band. The bids have gone up by over 33 per cent of the reserve price fixed by the Department of Telecommunications in all the bands. The entry of Mukesh Ambani’s Reliance Jio in the auction has made the bidding aggressive.

The e-auction of radio frequency spectrum, or airwaves, for telecom services saw bids placed for all the four frequencies on the block, with the eight companies in the fray making an offer for Rs 65,000 crore at the end of the 11th round, the government said on Thursday.
“The auction of spectrum in the 2,100 Mhz, 1,800 Mhz, 900 Mhz and 800 Mhz Bands resumed on Thursday at 9 a.m and five rounds of bidding were completed. Till now, 11 rounds of bidding have taken place,” a government statement said.

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