Videocon withdraws bid for CDMA spectrum

Videocon has withdrawn its bid for the CDMA spectrum (for the 800 Mhz band) in the upcoming 2G spectrum auction. In fact, the company had on October 29 been announced as a pre-qualifier in bidding process.

The company, which had in 2008 got pan-India 2G spectrum for Rs 1,658 crore, has also applied for GSM spectrum.

Another player which had applied for 800 Mhz band was Tata Teleservices. It may be noted that Tata Teleservices and Videocon have already deposited over Rs. 22.5 crore and Rs. 220 crore, respectively.

The 2G spectrum auction is to take place on November 12.

The final list of bidders will be announced on November 6. This will be followed by a mock auction on November 7 and 8 and thereafter the e-auction of 1,800 MHz band will take place on November 12.

The start of e-auction of 800 MHz band will happen two days after close of the 1,800 MHz band auction.

The payment of the successful bid amount will have to be done within 10 days of the close of the respective e-auctions, the DoT added.