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The Empowered Group of Ministers (EGoM), headed by P. Chidambaram, Minister of finance, has decided to permit foreign operators to participate in the 2G spectrum auction without a partner, say news reports.
However, foreign players winning spectrum in the auction will have to rope in an Indian partner before launching services in the country. The winners will also have to ensure that as a foreign investor, they do not hold more than the 74 per cent stake in the alliance.
However, the EGoM deferred the decision on whether incumbent operators should pay the auction-determined price for renewing the spectrum they hold for the remaining period of their licences. The 2G licences of incumbent players will come up for renewal in 2013.
