2G Spectrum auction begins today

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Nov 12, 2012: 2G Spectrum auction is all set to begin today i.e. Monday. Among the players who are bidding for the spectrum are Telenor, Videocon, Idea Cellular & Bharti Airtel. The auction process will begin by 9:00 a.m. and the operators will have to bid through a special site. Industry experts as well as the government are watching this process closely after the Supreme Court cancelled 122 licences which were awarded during the term of A Raja. The reserve price has been kept at a whopping Rs. 14,000 crore. The government is trying to raise some money through this process after they raised Rs. 40,000 crore through the auction of 3G spectrum. The stakes for the operators are high though the reserve prices is looked upon as a deterrent, as companies like Idea are trying to increase their presence by bidding for seven circles

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