September 16, 2014 / 9:05 AM / 5 years ago

Greece gets three bids in mobile phone spectrum sale

ATHENS, Sept 16 (Reuters) - Greece has received three bids for the sale of mobile phone frequencies aimed at upgrading telecom services in the country, the telecoms regulator said on Tuesday,

Greece’s biggest telecoms operator OTE, Vodafone and Wind Hellas submitted offers to buy mobile radio frequency rights within the 800 and 2,600 MHz band, telecoms regulator EETT said in a statement. The deadline for offers expired on Monday.

The auction is part of Greece’s 22 billion euro ($28 billion) privatisation plan agreed with its international lenders, the EU and the IMF, under a 240 billion euro bailout.

The minimum price for the radio frequencies has been set at 380 million euros, according to the tender document.

Greece’s 3 billion euro mobile phone market has been contracting in recent years, hurt by intense competition among operators and falling usage amid an austerity-induced recession.

According to the regulator’s 2012 figures, OTE’s mobile unit Cosmote has about 40 percent of Greece’s mobile phone market. Vodafone and Wind hold about 30 percent each.

1 US dollar = 0.7726 euro Reporting by Angeliki Koutantou; Editing by Mark Potter

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