Czech regulator suspends mobile frequencies auction

PRAGUE, March 8 (Reuters) - The Czech Telecommunications Office (CTU) has suspended an auction of mobile frequencies that could have brought a fourth entrant into the Czech market, the regulator said on Friday.

The regulator said bids for the aggregated auctioned frequencies had risen above 20 billion crowns ($1.03 billion), which was too much to make economic sense and would lead to high prices of 4G mobile services.

The regulator said it was revising the tender conditions and would inform of future steps in due course. ($1 = 19.4676 Czech crowns) (Reporting by Jan Lopatka; Editing by Jason Hovet)