Norwegian telecom operator Telenor plans to bid for 2G spectrum in the Mumbai circle, where it had lost its licences after annulment by the Supreme Court, in the proposed second round of auctions before the end of the current fiscal.
"There is most likely a new auction coming in the first quarter of next year. We will, of course, be looking at that, at least for one of our circle Mumbai, where we currently have our operations," the company's India managing director, Sigve Brekke, said at a press conference in Fornebu on Friday.
The statement came a day after the government approved a 30% cut in the reserve price for the four circles of Delhi, Mumbai, Rajasthan and Karnataka. After the deduction, the reserve price of the spectrum for the 1800 MHz band in Mumbai will be Rs 474.91 crore per block. Telenor will have to pay about Rs 1,900 crore for four blocks of spectrum if it bids for the Mumbai circle.
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