New Delhi: The government is going to start much awaited 2G spectrum auction today. According to an estimate, it is going to achieve proposed revenue target of Rs 40,000 crore.
The auction will be held for the airwaves of frequencies of cancelled 122 telecom licenses belonging to mainly eight companies. The Supreme Court had cancelled licenses in the month of February.
Telecom Minister Kapil Sibbal making this announcement said, "We have taken quick decisions, firm decisions in the telecom sector. The result of which is that we are in process of auctioning. 12th of November that auction will start."
The cancellation includes Uninor's 22 licences, Loop Telecom (21), Sistema Shyam (21), Idea Cellular including Spice Communications (13), Videocon (21), Etisalat DB formerly Swan Telecom (15), S-Tel (6) and Tata Teleservices (3 CDMA licences).