A. Raja arranged the sale of the 2G spectrum licenses below their market value. Swan Telecom, a new company with few assets, bought a license for 1,537 crore (US$307.4 million).Shortly thereafter, the board sold 45% of the company to Etisalat for 4,200 crore (US$840 million). Similarly, a company formerly invested in real estate and not telecom, the Unitech Group, purchased a license for 1,661 crore (US$332.2 million) and the company board soon after sold a 60% stake in their wireless division for 6,200 crore (US$1.24 billion) to Telenor. The nature of the selling of the licenses was that...
A. Raja arranged the sale of the 2G spectrum licenses below their market value. Swan Telecom, a new company with few assets, bought a license for 1,53...
