3G auction takes off tomorrow -services likely in 2011
08 Apr 2010
The long-delayed auction of 3G airwaves, which will enable the provision of fast broadband services, is finally set to begin on Friday in what promises to be the largest such sale in recent years. The auction of broadband wireless access (BWA) spectrum will follow later on in the month.
For pan-India 3G licences bids will start at Rs3,500 crore. Analysts expect bids to be much higher, however, because of the scramble for spectrum in a congested market which has over a dozen players.
The Department of Telecommunications said the 3G auction is designed to prevent predatory bids and collusion, reports CNBC-TV18. The 3G e-auction is likely to start at 9 am on Friday, and will remain open till 7.30 pm every day.
As pert the auction rules, bidders cannot name their price. They can accept or reject the price posted in each round. There will be multiple, round the clock e-auction simultaneously for 22 circles.
The 3G auction price is to increase in slabs of 10 per cent, 5 per cent, and 1 per cent over the reserve price for individual circles. The government hopes to rake in up to Rs35,000 crore from the auction - at Rs13,300 crore per nationwide 3G slot. WiMax bids are seen at up to Rs8,872 crore each.
The 3G auction could take days, officials said. Sources confirmed that there is no time limit or deadline for the closing of the auction.
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