By Adria Calatayud
U.K. communications regulator Ofcom said Tuesday that the remaining stages of an auction for spectrum expected to support the rollout of 5G connectivity have been completed, raising 1.38 billion pounds ($1.92 billion) in total.
Ofcom said an additional GBP23 million were raised in the assignment stage, on top of the GBP1.36 billion paid by bidders BT Group PLC, Vodafone Group PLC, Telefonica SA and CK Hutchison Holdings Ltd. in the principal stage of the auction.
"This additional spectrum will also support the ongoing launch of new 5G connections for people and businesses. Importantly, the bidders also have the flexibility to make trades, so they can optimise use of the spectrum they have won in the auction with their existing airwaves," Ofcom Spectrum Group Director Philip Marnick said.
Telefonica and Vodafone have entered into an agreement to negotiate spectrum positions, Ofcom said.
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires