New Delhi:
The latest revelations on the 2G scam suggest a careful confluence between the Telecom Ministry, when it was headed by A Raja, and a series of big business houses.
A big beneficiary of the 2G spectrum allocation was Unitech Wireless, which had no experience in telecommunication sector.
After Unitech got the licence for a throwaway price of Rs 1,661 crore, it sold 60 per cent stake to Telenor Asia for a whopping Rs 6,200 crore.
In its report, the CAG indicts Unitech saying the high value paid by Telenor was for the 2G spectrum, and not for other inputs as claimed by Unitech.
CAG also says that such huge equity infusion, which should have accrued to the public exchequer went as a favour to the new licencees for enriching their business.
Speaking to NDTV, the telecom giant Telenor said that its investment in Unitech Wireless conformed to all regulations.
A big beneficiary of the 2G spectrum allocation was Unitech Wireless, which had no experience in telecommunication sector.
After Unitech got the licence for a throwaway price of Rs 1,661 crore, it sold 60 per cent stake to Telenor Asia for a whopping Rs 6,200 crore.
In its report, the CAG indicts Unitech saying the high value paid by Telenor was for the 2G spectrum, and not for other inputs as claimed by Unitech.
CAG also says that such huge equity infusion, which should have accrued to the public exchequer went as a favour to the new licencees for enriching their business.
Speaking to NDTV, the telecom giant Telenor said that its investment in Unitech Wireless conformed to all regulations.
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