Vodafone Group PLC India is offering the government a $673 Million or an estimated equivalent of Rupees 40 billion for a license renewal deal for 3 key cities namely Kolkata, Mumbai and Delhi. The price that Vodafone offered was set due to the government's attempt to auction off the rights to airwaves for the aforementioned cities. The price that was established is a quarter of the original value set by the Indian government to auction off the rights for airwaves, but sadly there were no other bidders for the said auction.
The offer price set by Vodafone will last for 20 years for which will include licenses and for holding for the current airwaves in Kolkata, Mumbai and Delhi. Vodafone made communication with the Indian government's telecommunications secretary that along that they are willing to discuss further issues to finally settle on agreed terms and conditions for the 20 year contract.
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