BSNL plans to raise as much as 400 billion rupees in about a year in what would be India’s largest initial public offering. The New Delhi-based company may sell a 10 per cent stake in India and overseas.

The government said spectrum to new telecom players, who were last week awarded Letters of Intent, would be distributed on the basis of who was the first to deposit licence fee – even if the difference is a fraction of a second. Unfortunately, the corridors of DoT is not transparent in its dealing and everybody now knows the shady means of getting business done in India.

Verizon has secured licences to provide international and national long-distance services in India, through a joint venture.