India revokes 2G phone licences

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India revokes 2G phone licences

2 February 2012 Last updated at 15:39 GMT Help

India's Supreme Court has quashed all 122 licences issued to telecoms companies across the country since 2008.

The contracts to operate second generation mobile phones were issued by former minister A Raja, who is accused of mis-selling bandwidth. Mr Raja denies any wrongdoing.

Meanwhile, Facebook has outlined plans for its $5bn stock market flotation.

The BBC's Jamie Robertson discusses the key financial stories of the day.

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