Interesting offer by Loop Telecom

With all the fiasco surrounding 2G license auctions, the latest offer by Loop Telecom sounds very interesting. What the company has said that the government can go ahead and auction its license and keep any additional money that it raises. The government should also give a right to match the auction price to the company if it wants to do so.

The proposal, presented to the Supreme Court by Loop's lawyer, Ariama Sundaram, is that the government should auction the airwaves received by Loop. If the auction fetched more than 1,454 crore - which is the amount it paid in 2008 - the government could retain the difference, it suggested. The affidavit goes on to say that the Loop should also have the option of matching the highest bid to preserve its investments.

I think this is a really good solution and would also bring out the fact of what is the real price of a 2G license. Let's hope that supreme court orders this to be done.