February 13, 2014 6:12 PM

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Telecom spectrum auction ends, bids worth over Rs 60,000 crore received

The government has received bids worth over 60,000 crore rupees from the telecom spectrum auction, which ended today. The auction for 900 Mhz and 1800 Mhz bands saw strong contest for the radiowaves among eight telecom companies, with the bidding stretching to 68 rounds. The government will now get at least 18,273 crore rupees in the current fiscal. The government received bids for around 78 percent of blocks in 1800 Mhz band, and 100 per cent in 900 Mhz band. The bidding amount for 1800 Mhz has crossed its value of the reserve price, while for 900 Mhz the price rose by over 85 percent.

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