Pricey German auction interferes with 5G signal LiamWardProud
Germany’s Federal Network Agency on June 12 said it raised almost 6.6 billion euros in an auction of 5G mobile spectrum.
The nearly three-month process comprised a record 497 rounds of bidding for the 41 blocks of frequencies on offer. Deutsche Bank analysts had forecast total proceeds of 5 billion euros. Former national monopoly Deutsche Telekom paid 2.2 billion euros for 130 of the 420 megaherz of spectrum on offer. Rival Vodafone paid 1.9 billion euros for another 130 MHz, while Telefonica Deutschland, controlled by Spanish operator Telefonica, bought 90 MHz for 1.4 billion euros. New entrant 1&1 Drillisch, controlled by United Internet, won 70 MHz at a price of 1.1 billion euros.
Deutsche Telekom shares were up 0.8% at 15.59 euros by 0745 GMT on June 13, while Vodafone shares were up 1.4% at 131 pence. Shares in Telefonica Deutschland and 1&1 Drillisch were up 3.7% and 9.7%, respectively.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LG Elec's 5G phones in doubt as chip deal with Qualcomm set to expireSales of LG Electronics Inc's new 5G smartphone looked uncertain on Wednesd...
Read more »
Opinion | Killing Competition in 5GOpinion: The Justice Department will soon make its decision on the Sprint and T-Mobile merger—and Democrats, unions and big business are lining up to defeat it at the expense of America’s leadership in 5G telecom networks
Read more »
Pricey data, slashed fees, and poor returns are hurting hedge funds' margins —and some are getting in the business of helping their rivalsHedge funds like Brevan Howard and Winton Group have spun off companies that want to recruit the funds' competitors as clients.
Read more »
Deep-Sea Divers and Industrial Espionage: Inside America’s Next Cold WarThe Trump administration’s battle to prevent China from controlling the world’s 5G networks is just the latest flashpoint in an escalating technological arms race between Washington and Beijing—one that America is in danger of losing.
Read more »