Loop Telecom, one of the Indian 2G new entrants under the country’s 2008 flawed issue process, is reported to have told the government it can auction its national licence and accompanying spectrum. The company wants to be refunded the payment it made initially, with the rest of any proceeds going to the government, although somewhat conflictingly it also said it wants the option of matching the highest bid “to preserve its investments.” Loop has been in the spotlight because Essar Group is a shareholder, as well as owning a significant stake in Vodafone Essar.