2G’s games

November 14 2010

In the 2G spectrum distribution, all those companies have gained that, until now, had no experience of telecom industry. A popular construction company didn’t even have the word telecom in its memorandum. Only when it was given the spectrum was its Article of Association amended. Soon after, this company sold the spectrum at a good profit to Italisat. Not just this company, several others sold their licenses to other companies for hefty profits. The financial transactions were also rife with inconsistencies. Foreign bank accounts were transferred money, there were cash deals. All in all, a long list of scams.

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