UK's Ofcom Completes 5G Spectrum Auction, Raising GBP1.38 Billion
27 Abril 2021 - 4:26AM
Dow Jones News
By Adria Calatayud
U.K. communications regulator Ofcom said Tuesday that the
remaining stages of an auction for spectrum expected to support the
rollout of 5G connectivity have been completed, raising 1.38
billion pounds ($1.92 billion) in total.
Ofcom said an additional GBP23 million were raised in the
assignment stage, on top of the GBP1.36 billion paid by bidders BT
Group PLC, Vodafone Group PLC, Telefonica SA and CK Hutchison
Holdings Ltd. in the principal stage of the auction.
"This additional spectrum will also support the ongoing launch
of new 5G connections for people and businesses. Importantly, the
bidders also have the flexibility to make trades, so they can
optimise use of the spectrum they have won in the auction with
their existing airwaves," Ofcom Spectrum Group Director Philip
Marnick said.
Telefonica and Vodafone have entered into an agreement to
negotiate spectrum positions, Ofcom said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 27, 2021 03:11 ET (07:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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