India’s 3G auction is finally over. And the winner are – telecom majors Vodafone and Bharti who, when combined have coughed up USD 5.1 billion for 3G mobile licenses, ending an epic auction that yields a bonanza for a deficit-strapped government but puts winners under pressure.
Reliance Communications also won the right to provide third-generation services and will generate USD 14.6 billion for the government, nearly twice what it had expected. After the grueling 34 days of auctioning and 184 rounds of bidding, the government has garnered revenue worth Rs 67,719 Crores.
Publish date: May 20, 2010 10:40 am| Modified date: December 18, 2013 6:19 pm