Yahoo News on Decmber 18, 2010 morning:
Ashish Khetan | India Today – Tue, Dec 14 1:40 PM IST
Tata also benefitted in 2G: Radia
My client Tata Teleservices has also been a beneficiary in this (read 2G scam).” This is the candid claim that Niira Radia made to a senior IAS officer Sunil Arora in a taped telephone conversation in June 2009. It was no idle boast.
Radia managed to get Tata Teleservices’ precious GSM spectrum across 18 telecom circles of the 22 at dirt cheap rates. She ensured that Tata jumped the queue and got spectrum ahead of 343 applicants. Till as late as 2010, Department of Telecom (DoT) continued to allot Tata the spectrum at the 2001 price.
All Tata paid was a little over Rs 1,600 crore for the 4.4 MHz spectrum. The CAG report tabled in Parliament states that if former telecom minister A. Raja had chosen the auction route, Ratan Tata would have paid anywhere between Rs 9,000 crore and Rs 20,000 crore for the same spectrum allocation.
After this deal, the net worth of Tata Teleservices skyrocketed. In November 2008, Tata Teleservices sold 26 per cent stake to Japanese telecom player Docomo for a staggering $2.8 billion, making a stupendous profit out of a single deal.
While Raja, citing shortage of spectrum, arbitrarily altered the cut-off date for applications made by new entrants from October 1, 2007 to September 25, Tata was shown a special favour and allotted spectrum ahead of 343 applicants even when Tata Teleservices had submitted the application only on October 20.
Thank you Ratan for your honesty. I will not buy your products anymore. Keep up your (dis)honesty. If you got any sense of decency or integrity inside, quit from the Tata Groups’ post or return the money.
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