Voice and Data has done a story on spectrum hoarding. Among the main sources is Payal Malik, who did the spectrum/licensing study that was part LIRNEasia’s mobile 2.0 work. According to Payal Malik, sr research fellow, LIRNEasia, “It is difficult to verify whether the spectrum is actually being hoarded, but given the way allocation has taken place, I won’t be surprised if it is. In an effort to eliminate competition, the existing players inflate subscriber numbers.