Uninor to bid, but legal options open | india | Hindustan Times
Today in New Delhi, India
Dec 05, 2016-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Uninor to bid, but legal options open

india Updated: Feb 06, 2012 23:32 IST
HT Correspondent
HT Correspondent
Hindustan Times
Highlight Story

Unitech Wireless (Tamil Nadu) Ltd, a joint venture between Norway-based Telenor group and Unitech Ltd, will participates in the bids for 2G spectrum, even as the company plans to keep legal options open to contest last week's Supreme Court judgment that cancelled 122 licences.

However, the company may not bid for all the circles if the reserve prices are very high.

"In principle we will go for auction but I am not saying that whether we will win everything," said Sigve Brekke, managing director, Unitech Wireless. "So, the option of exit cannot be ruled out."

The company would finalise its strategy after looking at the base price and the reserve price for the 2G spectrum, said Brekke.

On Thursday, the Supreme Court cancelled licences of all the new GSM service providers including Unitech Wireless. The Telecom Regulatory Authority of India (TRAI) has already started the consultation process for formulating recommendations for awarding new licences.

The bidding should be limited between new service providers and incumbent operators should not be allowed to participate in the bidding process, said Brekke.

Telenor owns 67.25% in Unitech Wireless, while Unitech owns the rest.