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Tuesday, May 25, 2010

Telcos withdraw plea to tribunal over 2G plan

Mobile operators such as Bharti Airtel and Vodafone Essar on Tuesday withdrew their plea to the telecom tribunal over the regulator's proposals to slap new fees on second-generation (2G) spectrum, a lawyer said.

Petitions filed by leading operators seeking to overturn the sector regulator's proposals to slap new fees on 2G spectrum has been withdrawn, C.A. Sundaram, one of the lawyers representing the operators, told reporters.

The Telecom Regulatory Authority of India (TRAI) earlier this month called for firms to pay a one-time fee for 2G radio-spectrum with high bandwidth they won several years ago based on 3G spectrum price, a move that could see established operators paying billions of dollars.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Apr 14
02:30 Fed's Kashkari speech 2
04:00 Business NZ PSI 2 49.1 49.1
04:15 Electronic Card Retail Sales (MoM) 1 -0.8% 0.3%
04:15 Electronic Card Retail Sales (YoY) 1 -1.6% -4.2%
04:15 Visitor Arrivals (YoY) 1 1.1% 13.4%
12:00 Producer and Import Prices (MoM) 1 0.2% 0.3%
12:00 Producer and Import Prices (YoY) 1 -0.1%
17:30 OPEC Monthly Market Report 1
18:00 Wholesale Sales (MoM) 1 0.4% 1.2%
21:00 3-Month Bill Auction 1 4.175%
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