India's 3G licence auction has been delayed by two weeks.
The Department of Telecom said the auctions, scheduled to start on Jan 16th, have been postponed to Jan 30th, as the government has not yet approved some key parameters.There's a reserve price of $412 million for licences. The Finance Ministry is understood to be looking to double the reserve prices, which could push the cost of a nationwide license to over $1 billion.
Foreign companies can bid, but need to find a local partner to take a 26 per cent stake in the company.
Advertisement
