Four firms bid for 3G e-auction agency

Saturday, 27 September 2008, 04:47 Hrs
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New Delhi: Four information technology firms Thursday submitted bids for selection of an e-auction agency that will conduct online auctions for third generation radio frequencies in India, an official said here. "Only four companies - mjunction, Rothschild, MSTC and Sai Information System - have submitted their bids with us today," a Department of Telecom (DoT) official told IANS. The interested firms were required to submit their bids by Sep 25. According to DoT guidelines, all the firms bidding to be the agency to conduct the e-auction will have to declare their shareholding pattern - both Indian and foreign firms, if any. Besides, the DoT has said potential bidders cannot have more than 10 percent stake in any telecom or Internet service provider in India. Under the guidelines, only those companies which have a paid-up capital of 25 million, a net worth of at least 100 million, and have conducted similar auctions before will be eligible to apply. "All applicants that meet the eligibility criteria will have to make a presentation before the evaluation committee demonstrating their experience and capacity to conduct the auction Monday, September 29," DoT official said. While the covering letter was opened Thursday, the government will declare the eligible bidders Friday. The eligible bidders will make presentations before the DoT evaluation committee Sep 29. The finalisation and declaration of technical bids will be Oct 1, to be followed by the opening of financial bids Oct 3. The bids are to be finalised by Oct 6. The DoT had earlier said the auctions of 3G radio frequencies for telecom operators will be held within three months of selecting the agency to conduct the same. This implies, if the agency in selected by October, the auctions must be conducted before January, 2009.
Source: IANS
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