Member access

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Vodafone Group plc    VOD   GB00B16GWD56

VODAFONE GROUP PLC (VOD)

108
SummaryChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Telecom Firms Lobby With India Government Against Regulator's Bandwidth Auction Proposals

05/02/2012 | 08:11am US/Eastern
Recommend:
0

The chiefs of Indian and foreign mobile-phone companies Wednesday met with top government officials to press their views against the telecommunication regulator's recent bandwidth auction proposals such as a steep base price.

The meetings come a week after the Telecom Regulatory Authority of India proposed starting prices for the bandwidth sale several times higher than what operators pay currently, and also the auction of only one slot of bandwidth, among others.

Local operators have called the proposals "regressive." Analysts say the suggestions, if accepted by the government, will increase operational costs for companies and call tariffs for consumers.

Monday, the government said it was referring back the bandwidth auction proposals to the regulator for a review, and expects TRAI to revert by May 14. India plans to take a final decision on the auction process by the end of May.

After the meetings Wednesday, Jon Fredrik Baksaas, chief executive of Norway's Telenor ASA (TEL.OS), which runs its Indian operations through a joint venture, said that the auction proposals weren't as per the Supreme Court's directions and that the regulator completely ignored the views of all operators while framing the proposed rules.

"India must remain an attractive destination for all foreign investors across industries, not only because of the growth potential it indeed offers, but also its predictable, logical and investor-friendly policy environment," he added.

Bharti Airtel Ltd. (532454.BY) Chairman Sunil Mittal, Idea Cellular Ltd. (532822.BY) Chairman Kumarmangalam Birla, and Vodafone Group PLC (>> Vodafone Group plc) CEO Vittorio Colao were among the other executives who met with officials including Finance Minister Pranab Mukherjee, Commerce Minister Anand Sharma and Telecom Secretary R. Chandrashekhar.

The executives are scheduled to meet with Telecom Minister Kapil Sibal later Wednesday.

Bharti's Mittal told reporters that the regulator's proposals were "catastrophic for the industry," and "destructive."

TRAI officials couldn't be immediately reached for comment, but Chairman J.S. Sarma has previously justified the auction proposals.

-By R. Jai Krishna, Dow Jones Newswires; +91.11.4356.3333; krishna.jai@dowjones.com

Stocks mentioned in the article : Vodafone Group plc
Recommend :
0
React to this article
Latest news on VODAFONE GROUP PLC
5h ago VODAFONE : Eyre's penalty miss allows Ruston to walk off with title ; Lincoln Su..
1d ago CHARLES DUNSTONE : Smart appliances only part of the story, say observers who se..
2d ago VODAFONE : Executives Acquire Shares (DIRECTOR DEALINGS)
2d ago VODAFONE : calls for greater focus on how mobile can help tackle the digital div..
2d ago VODAFONE : Ghana Executive Quits
2d ago VODAFONE : RCS&RDS inks national roaming agreement with Vodafone; outlines 900MH..
2d ago VODAFONE : to deliver IPTV over Dutch FTTH infrastructure
2d ago VODAFONE : Power your life with the new Samsung Galaxy S5
2d ago VODAFONE : Takes full control of india unit
2d ago Diageo in $1.9 billion bid to raise stake in India's United Spirits
Advertisement
Chart
Duration : Period :
Vodafone Group plc Technical Analysis Chart | VOD | GB00B16GWD56 | 4-Traders
Income Statement Evolution
Vodafone Group plc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF