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Germany raises 5 billion euros in auction of mobile phone frequencies
[BERLIN] Germany raised 5.1 billion euros (S$7.7 billion) in a new auction of radio frequencies for mobile phone network operators, the telecoms regulator said on Friday.
"After 16 days and 181 rounds, the auction has ended. All three bidders - Telefonica Deutschland, Deutsche Telekom and Vodafone - were successful," the Bundesnetzagentur said in a statement.
Vodafone bought frequencies for 2.1 billion euros, Deutsche Telekom for 1.8 billion euros and Telefonica for 1.2 billion euros, it added.
The auction was for frequencies of 700 megahertz (MHz), which will provide faster Internet connections via mobile devices such as smartphones and tablets in rural areas.
The proceeds will be invested in digital infrastructure.
The revenues of 5.1 billion euros are a far cry from the 50.8 billion euros the German government raised in the auction in 2000 for new 3G network licences.