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Austrian 4G telecom auction bids seen near 2 billion euros
October 1, 2013 / 11:02 AM / in 4 years

Austrian 4G telecom auction bids seen near 2 billion euros

VIENNA, Oct 1 (Reuters) - Austria’s auction for fourth-generation (4G) telecoms spectrum is into its fourth week with bids already about four times the starting price, according to Reuters calculations.

Based on confidential information about the auction from a source close to the process, conservative calculations show the total bid volume close to 2 billion euros ($2.7 billion), far above the 526 million the regulator had set as a minimum.

“It’s going in that direction,” said the source when presented with the calculations.

Three sources with knowledge of the matter said the bidding process was still going on, and two of the sources said no fourth player had emerged to take advantage of cut-rate offers designed to encourage a new market participant.

When the initial bidding rounds are over, the final price will come down after participants submit sealed bids for combinations of frequency blocks. The actual price paid by the winner will approximate to the second-best offer received.

“We do not give any estimates. We provide no further information,” a spokeswoman for the regulator said on Tuesday.

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