Below is the edited transcript of his interview to CNBC-TV18.
Q: On Friday, Videocon withdrew from the CDMA auction and now it's Tata Tele, but the fact is that they had all decided to bid for the auction. What has happened in the last few days?
A: Videocon has opted out of the CDMA auction last we but we have not received any information about Tata's withdrawal from the auction. If Tata Teleservices opts out of the acution then it will reinforce AUSPI's contention that the reserve prices set by the DoT were very high. DoT in its wisdom had decided to set CDMA reserve prices at 1.3 times the GSM reserve prices. We have always maintained that although the CDMA spectrum is in a lower frequency band than GSM, its commercial value is in fact much lower.
Q: The reserve price was known even when Videocon and Tata Tele had decided to bid. So, again, can it only be the question of the reserve price because we all knew earlier there is going to be 1.3 times the price of GSM?
A: If you look at spectrum auctions or any auction across the world, many people when they have time hedge their bets and to cover their risks apply for a number of auction slots, but when it comes closer to the date and when they fine tune their business plans and their intentions it is not unusual anywhere in the world to see people opting out at the last minute and I am not surprised that this has happened, it is quite normal.
Q: Do you think the companies have decided to fine tune together because Sistema Shyam had not even applied?
A: No, I don't think the companies would have taken any consolidated action. Typically, the telecom sector is competitive. No company would share its real internal business plans or designs with any other companies.
Q: Do you think really that Tata Tele and Sistema Shyam's curative petitions have any future because it is very rare that a curative petition gets a favourable order and in this case we have seen the Tata Tele has actually simply followed Sistema's footsteps because until Friday they were certain that they will bid in the upcoming auctions?
A: It is difficult for us to comment on individual members or their intentions. As both Sistema Shyam and Tata Teleservices are our members it be very difficult for us to comment on their views maybe or may not be on the success in the Supreme Court on the curative petition.
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