India's top three mobile phone operators spend $13.6 billion in airwaves auction

[Wireless News]

http://l2.yimg.com/bt/api/res/1.2/nqgJirjdKRQUqiLz7VZMDw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2015-03-26T122406Z_1_LYNXMPEB2P0OS_RTROPTP_2_INDIA-TELECOMS-AUCTION.JPG (http://news.yahoo.com/top-three-mobile-operators-spend-9-1-billion-122406531--business.html)By Aman Shah MUMBAI/NEW DELHI (Reuters) - India's top three mobile phone network operators have spent a combined $13.6 billion in a government auction of airwaves to secure almost 80 percent of the spectrum on offer, reinforcing their positions in the world's second-biggest mobile market. "The outcome of this auction ... will eventually lead to a significant outflow of funds and further burden the industry, which already remains under a debt of 2.5 trillion rupees ($39.8 billion)," Cellular Operators Association of India said in a statement. Altogether India raised $17.6 billion in the auction after 19 days of fierce bidding, of which the government expects to receive about 288.72 billion rupees ($4.6 billion) in initial payments, telecoms minister Ravi Shankar Prasad said on Thursday. Idea Cellular, the country's third-biggest mobile operator by market share, spent 303.06 billion rupees in the auction, the single biggest amount spent.



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