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The country’s top three telecom companies (telcos) will have to spend a minimum of around Rs 44,000 crore merely to replace the spectrum they hold, directly or through sharing, and which expires next year.
With the government getting 25 per cent of the money upfront, this constitutes one-third of the estimated industry earnings before interest, tax, depreciation, and amortisation of Rs 33,981 crore, based on Cellular Operators Association of India estimates for 2019-20.
The figure is based on the base price of spectrum for the upcoming auction fixed by the Telecom Regulatory Authority of India and on the assumption that there will
