Now or never? Panicked telcos shell out vast sums for spectrum

The auctions for spectrum in the 900 MHz and 1800 MHz bands came to an end on Thursday after 10 days of aggressive bidding by the country's major telecom operators. While Finance Minister P Chidambaram has every reason to feel happy with the auctions that earned the government a total revenue of a little over Rs 61,000 crore (the actual benefit for the exchequer this year, however, will only be about 30 per cent of this amount in view of the mandated payment schedule), investors in the telecom companies appear to be a worried lot.

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