Only Sistema applies for spectrum, govt in a spot

The government has another failed spectrum auction on its hands and this means its target of earning over Rs 40,000 crore through sale of airwaves within this fiscal has gone for a toss. But this is not its only problem. What does the government do now, as and when licenses of an existing telcos come up for renewal? Some would call it behaviour fit for a cartel but no telco other than Sistema Shyam Teleservices today submitted an application for participation in the auctions.

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