Policy uncertainty, apart from the fact that it is a scarce resource, drove up prices in the 3G mobile licence spectrum auction, a top Bharti official said today.
These two factors drove up prices on the "higher side", Bharti Enterprises' Vice-Chairman & Managing Director and Group Lead Director of Bharti's Wholesale and Retail Business, Rajan Bharti Mittal, told reporters here today.
Asked to comment on the "uncertainty" that he referred to, he said: "There is (are) only three slots today... When is the next slot going to come... When will the release happen... When more spectrum will happen... Will we get more spectrum on 2G. I think these are the issues still to be addressed."
With regard to the industry's concerns on recouping the investment made on bagging the 3G licence, Mittal said: "Allow us to roll out on 3G, then you can talk about it."
The auction concluded on Wednesday, generating a revenue of Rs 67,710 crore for the UPA government, almost twice the expected amount.