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03-22-2012, 09:52 AM #1
Uninor moves SC, seeks 2G auction by June
Telecom operator Uninor on Wednesday said it has filed an application in the Supreme Court seeking its direction to the government to conclude the 2G auction by June 2 in line with the order of the apex court.
"Our licences are going to be quashed on June 2 and if that timeline is not extended, then we are out of business without having a chance to get a new licence," Uninor MD Sigve Brekke said.
The Supreme Court had, on February 2, cancelled 122 telecom licences, including 22 of Uninor, a joint venture between Telenor of Norway and domestic realty player Unitech.
Telenor has a majority stake in the joint venture.
While the apex court had asked the government to conduct auction for 2G spectrum within four months, Department of Telecom has expressed inability to complete the process within the timeline. Instead, it has sought 400 days to complete the process.
"What we are saying in our application in the Supreme Court is that we don't think 400 days are needed...it is possible to conduct the auction in four months... by following the 3G rules," Brekke said.
He said Uninor would be out of business if the auctions are not conducted by June 2.
Brekke said the Norwegian company is committed to stay in India. However, it is looking for a new partner for the Indian joint venture, separating from Unitech.
"The reason why we continue investing in the business, continue to incur losses in the business, continue to increase our subscriber base is that we have a long term intention," he said.