Zeebiz.com
New Delhi, Aug 3: The Cabinet on Friday fixed a minimum or base price of Rs 14,000 crore for the Supreme Court mandated auction of telecom spectrum.
The Cabinet, headed by Prime Minister Manmohan Singh, decided to fix the reserve price at the lower end of the Rs 14,000 crore to Rs 15,000 crore band that was recommended by an Empowered Group of Minister (EGoM), official sources said.
The EGoM had suggested a reserve price at Rs 14,000-15,000 crore for 5 Mhz of airwaves as against around Rs 18,000 crore recommended by sectoral regulator Trai for the auction of spectrum vacated from cancellation of 122 licences by Supreme Court.