Market leader Bharti Airtel, which could face paying $1.4 billion, said the regulator's proposals were “shocking, arbitrary and retrograde” and urged government to reject them. Vodafone's Indian unit Vodafone Essar, the number three Indian player, described the plan as “opaque, illogical and discriminatory.” Bharti's shares ended 8.3 percent, wiping $2 billion off its value on Wednesday.

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