Guidelines for 3G spectrum auction issued

New Delhi, Jan 30 (IANS) The government Friday issued details about the 2,100 megahertz (MHz) or 3G spectrum auction March 4 in 17 out of 22 circles across India.

The cabinet Jan 28 had approved a reserve price of Rs.3,705 crore per MHz for the auction.
The department of telecommunications in its amended notice inviting applications said only one bidder would be able to win in one service area.
One block of 5 MHz in each of the 17 service areas would go under the hammer, amounting to a total of 85 MHz.
Winning bidders need to provide an upfront payment of 33 percent of the final bidding amount within 10 days of declaration of successful bidders.