CDMA service provider Tata Teleservices (TTSL) has written to the Department of Telecommunications (DoT) that the lock-in period proposed by the ministry for stake sale by new licensees should be enforced.
The move gains importance after two new telecom players — Swan and Unitech— sold stakes to foreign companies at high premiums after the allocation of spectrum. The Left parties had also accused Telecom Minister A Raja of underselling spectrum that cost the national exchequer around Rs 60,000 crore.
TTSL, which is planning to start GSM services in the country by January next, has stressed the need for a lock-in period to avoid any such future move.
A TTSL spokesperson declined to comment on the issue.An internal note prepared by the telecom ministry and presented before the Telecom Commission (ministry’s decision-making body) has sought reintroduction of lock-in period of 3 to 5 years for stake sale by promoters.
The telecom ministry is also believed to be favouring an imposition of lock-in period, but with a 3-year ban on stake sale.
