The government is likely to set up a Group of Ministers (GOM) to take a final decision on divesting stake in the telecommunications company, Bharat Sanchar Nigam Ltd.
Half the money, to be invested over the next 12 months, will be used to expand its mobile network.
Only those foreign companies with an existing presence in Indian telecom finally put in bids for the 3G auction. The last date for applications was March 19.
In a move that could revolutionise internet access for millions, state-owned Bharat Sanchar Nigam Limited is considering opening up its last mile local loop (fixed copper lines) for broadband services to private players.
