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…
Tata Teleservices and Aircel the only two telcos that have declared a negative net worth for next month’s spectrum auctions are allowed to only top up their existing holdings and can’t bid for new airwaves, the telecom department has said.
A senior official of the department of telecommunications explained to ET that the auction rules require an operator to have a net worth of at least Rs 100 crore to make it eligible to either expand its geographical coverage or buy airwaves in a new band in circles where it holds spectrum.
The department of telecommunications said late Tuesday that Aircel cannot bid for airwave bands that it doesn’t already have in a particular circle. Original post at ET Telecom