Germany's auction of spectrum for 5G mobile networks drew brisk initial bidding on Tuesday with prospective new entrant 1&1 Drillisch submitting ...
MAINZ/FRANKFURT: Germany's auction of spectrum for 5G mobile networks drew brisk initial bidding on Tuesday with prospective new entrant 1&1 Drillisch submitting bold offers for the frequencies it covets.
By contrast, the three existing operators - Deutsche Telekom, Vodafone and Telefonica Deutschland - only submitted minimum opening bids for the blocks they are interested in. Yet despite his striking entrance, analysts don't expect bidding to get out of hand - as it did in a ruinous 3G auction in 2000 that raised 50 billion euros, forcing some players to exit the German market and others to merge.
Most of the national 5G auctions held in Europe to date have been low-key, low-cost affairs. The exception was Italy, where fierce bidding last year generated proceeds of 6.5 billion euros and left operators financially stretched.In Mainz, further auction rounds saw intriguing duels developing, as Vodafone outbid Drillisch on two blocks and Deutsche Telekom on one.
"We are happy that it's getting under way - it's been a bumpy start and could have happened earlier," said Deutsche Telekom spokesman Philipp Schindera.
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