Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
The government has raked in Rs. 1.08 lakh crore from the ongoing mobile airwave auctions till Wednesday, surpassing all expectations, even as the fight between Vodafone India, Bharti Airtel, Idea Cellular and Reliance Jio Infocomm stayed focused on CDMA (800 MHz) airwaves that can support 4G services in future.
“There is robust bidding going on in 1800 MHz and 800 MHz bands. The competitive bidding is expected to continue,” the department of telecommunications said in a news release.
At the end of six rounds on Wednesday -and a total of 80 rounds since the auction began on March 4 -as much as 89% of the spectrum on offer was sold on a provisional basis to telecom carriers.
The government cannot disclose final results of the auctions until the Supreme Court gives the go ahead. The court is set to hear the case over complaints on the sale mechanism on March 26. Original post at ET Telecom