Government to allow overseas operators to bid in the 2G auction without a domestic partner

?

Foreign telecom operators will be allowed to participate in the forthcoming 2G auction without an Indian partner, say news reports.

As per the current foreign direct investment rules governing the telecom sector, overseas telecom companies cannot own more than 74 per cent share in an Indian telecom company. However, the government plans to be flexible about this norm for the upcoming 2G spectrum auction.

It will, nonetheless, permit successful foreign bidders to rope in a domestic partner within 90 days of the auction to meet the investment guidelines of the telecom sector.