3G bidders may get access to IIFCL funds

10 Dec 2008

India’s Economic Times is reporting that overseas telcos looking to participate in the upcoming 3G auctions may be able to borrow money for their bids from state-owned India Infrastructure Finance Company (IIFCL). The move comes amid concerns that foreign buyers may not participate in the auction due to the poor economic worldwide climate. Norwegian telecoms group Telenor, which recently acquired a 60% stake in cellco Unitech Wireless, has already stated it does not intend to bid. The IIFCL has been granted permission to raise INR100 billion (USD2.10 billion) through tax-free bonds from the public and financial institutions in order to meet any demand from companies looking to bid.



Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate



Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.