Airwaves in Delhi, Mumbai, Karnataka and Rajasthan went unsold in last month’s auction due to high prices

The Cabinet on Thursday approved a 30 per cent cut in the reserve price for sale of mobile phone spectrum in four zones that went unsold in the last month’s damp-squib auction.

Airwaves in Delhi, Mumbai, Karnataka and Rajasthan found no takers as bidders found the prices too high. Later, a ministerial panel recommended a 30 per cent cut in the base or reserve price for spectrum in 1,800 megahertz band in the four circles.

The Cabinet, headed by Prime Minister Manmohan Singh, accepted the Empowered Group of Ministries’ recommendation and approved auction of airwaves at 30 per cent lower price, one of the participants said.

The reserve price for last month’s sale per block in Delhi was Rs. 693.06 crore, while the same for Mumbai, Karnataka and Rajasthan was fixed at Rs. 678.45 crore, Rs. 330.12 crore and Rs. 67.08 crore respectively. — PTI