rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Vodafone offers Rs 4,000 cr for licence renewal in 3 cities

Vodafone offers Rs 4,000 cr for licence renewal in 3 cities

July 01, 2013 16:19 IST

Vodafone Group Plc's Indian unit, which is in a dispute with the government over the renewal of its licences in three key cities, is offering to pay Rs 4,000 crore (Rs 40 billion) for the extension of the permits, the company said in a letter dated June 18 to the telecoms ministry and seen by Reuters.

VodafoneThe price offered by Vodafone for airwaves in Delhi, Mumbai and Kolkata is about a quarter of the value set by the government in an auction that had been scheduled for March 2013 but never took place because there were no bidders.

Vodafone's offer price is for the extension of the licences for 20 years, along with its current airwave holdings in the three cities, the company wrote to the government's telecommunication secretary, adding it was willing to discuss the issue further to arrive at mutually agreed terms and conditions.

Devidutta Tripathy in New Delhi
Source:
© Copyright 2014 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.