Telenor wants 50% cut in Mumbai licence fee

Impossible to participate in Mumbai auction at current price level, CEO Telenor

Telecoms firm Telenor asked Indian authorities to reduce the licence fee for the Mumbai region by 50%, otherwise it would be nearly impossible to take part in the auction, Chief Executive Jon Fredrik Baksaas said on Friday.

"We expect the upcoming auction to be sub-optimal if the current price level is maintained - it will be comparable to the November auction, with limited participation," Baksaas told Reuters after meeting with Indian officials in Davos.

"It is nearly impossible to participate in the Mumbai auction at the current price level," he said after discussing several topics with Indian officials.