March 9, 2015 12:59 PM

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Spectrum auction to resume today after garnering bids worth Rs 86,000 cr

The auction for the remaining unsold spectrum will resume today for which 8 companies are bidding to acquire airwaves in four bands. By Saturday, the auction, that began on Wednesday, completed 24 bidding rounds. The Department of Telecom said, the Government has got commitments of Rs 86,000 crore from telecom players at the end of fourth day of spectrum auction on Saturday. It said that the commitments have crossed the targeted minimum amount of Rs 82,000 crore from the ongoing sale of 2G and 3G airwaves. However, the government will not release results of the auction because of a court ruling. The auction is the biggest ever sale of 2G and 3G airwaves where government is selling spectrum in four bands 2,100 megahertz (Mhz), 1,800 MHz, 900 MHz and 800 MHz. The government had raked in Rs 62,162 crore from the last spectrum auction held in February 2014.

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