DoT finalises auctioneer for 2G spectrum bid

The department of telecommunications (DoT) on Monday finalised Times Internet Ltd, part of the Bennett, Coleman & Co media group, to conduct the Supreme Court-directed re-auction of second-generation (2G) telecom spectrum.

A DoT official said three companies had applied, but the other two didn’t clear the technical scrutiny, leaving Gurgaon-based TIL the winner. He wouldn’t say what their fee would be. The other two were the National Commodity and Derivatives Exchange Ltd and Karnataka State Electronics Development Corporation.

DoT would frame a schedule for completion of the auction, in consultation with TIL, and present it to the Empowered Group of Ministers (EGoM) on the subject. The latter is likely to meet tomorrow for the final approval, the official said.

FINALISING AUCTION PROCESS

• DoT today finalised Bennett Coleman Group company Times Internet Ltd as auctioneer of 2G airwaves 
• Other two firms that bid were (National Commodity and Derivative Exchange) and Karnataka State Electronics Development Corporation Limited 
• DoT to frame schedule for completion of the auction process in consultation with TIL and present it before EGoM for final approval

 

DoT’s earlier schedule had said the information memorandum and rules for the auction were to be issued by August 27, just four days before the court-ordered deadline of August 31 to complete the entire process.

Sistema Shyam and Uninor have permits to operate only till September 7, unless they get more in the auction, the SC had said.

Last week, the government fixed a base price of Rs 14,000 crore for the auction, for pan-India spectrum.

The cabinet also accepted the EGoM recommendation of pricing the 800 Mhz spectrum at 1.3 times the rate of the 1,800 Mhz band.