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Govt issues LoIs to 3G bidders; to allot spectrum on Sept 1

The government today said it would allot 3G spectrum to successful bidders on September 1, and rejected the criticism of faulty auction process leading to high prices by leading operators. The government also said that the Broadband Wireless Access (BWA) spectrum would be allocated to all the players, including Infotel Broadband, which has been acquired by Mukesh Ambani-led Reliance Industries (RIL), next week. "While the overall proceeds from the auction for 3G and BWA spectrum at over Rs 1,06,000 crore have exceeded all expectations, an equally important aspect is that the true ...