Spectrum of hope

The auction of 2G spectrum ending February 13 will have enriched the exchequer by roughly R61,000 crore or over $9.7 billion. This is good news for a deficit-strapped government but also a reward for poor handling of spectrum and questionable auction design. The auction succeeded because it forced a “now or never” option on bidders with little information about future spectrum availability or when the next auctions will be held.

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