New Delhi: Union Telecom Minister Kapil Sibal will hold a crucial meeting with top telecom giants on Wednesday to discuss the 2G spectrum pricing as on lines of the recent recommendations of TRAI over fresh spectrum auctions.

Top telecom honchos including Sunil Mittal, Anil Ambani and Kumarmangalam Birla are expected to be present in the crucial meet and raise their concerns over the hike proposed by TRAI in 2G spectrum prices.

TRAI's recommendations have evoked sharp reactions from telecom players. Norwegian firm Telenor has even indicated that it may exit India business if the recommendations are accepted.

TRAI had on April 23 recommended a base price of Rs 3,622 crore for a megahertz of pan-India spectrum, which is around 13 times higher than the price at which 2G licences were allocated in 2008 under the then Telecom Minister A Raja.

According to the recommendations, a minimum of 5 Mhz should be allotted, which means that pan-India spectrum in 1800 MHz band will cost Rs 18,000 crore. The reserve price is five times the base price of Rs 3,500 crore for 3G auction.