India 3G bids up on second day
Auction for India's 3G spectrum resumes MondayNEW DELHI -- Bids rose on the second day of India's multi-billion dollar third-generation telecommunications service auction, with one provisional winning bid for national coverage reaching 40.85 billion rupees ($922 million), or about a 17% premium to the base price, government data showed.
A total of 10 rounds of bidding had been completed by Saturday, India's Department of Telecommunications said on its Web site, without disclosing which company had bid how much.
The widely-watched auction started on Friday and the multiple-round bidding process is expected to take about two weeks to complete, officials have said.
On the first day, bids were at about a 12% premium to the base price of 35 billion rupees for all-India spectrum.
There is no bidding on Sunday. The auction resumes on Monday.