The DOT is looking for bidders with experience conducting at least five auctions in the last three years, with a value of at least 25 billion Indian Rupees ($582.92 million).
Auctions are expected to be held within the next couple months, with spectrum to be allocated by the end of the year. (See India Edges Closer to 3G.)
The DOT is apparently moving ahead with the process despite the objection of the government's finance ministry, which says it should have been consulted on the pricing of spectrum.
Anil Ambani, Reliance's chairman, said on the company's recent quarterly earnings call that it's holding off on listing both Infratel and its international services arm Global Cloud Xchange due to the "volatility in global and Indian capital markets." He added, "When we find an appropriate time, I am sure that we will proceed both with Globalcom and Reliance Infratel."
The mobile operator has delayed its open offer for Spice's 20 percent publicly traded stake following delays in receiving approvals from the Securities and Exchange Board of India. The offer was scheduled to open on Aug. 22 and close on Sept. 11, but in a statement filed Thursday with the Bombay Stock Exchange, IDEA said a "revised schedule of activities... will be announced separately on receipt of observations from SEBI."
In its domestic markets, MTNL is trying to lure new users with a mobile TV service and has halved the price of its broadband services in New Delhi, an offer effective from today for new subscribers and from Sept. 1 for existing customers.
— Nicole Willing, Reporter, Light Reading
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