LONDON (AFX) – Deutsche Telekom AG’s T-Mobile bid 1.18 bln usd for 23 licenses in the 17th round of the US wireless auction, taking its total provisional bids to 58 licenses for 3.75 bln usd.Cingular AWS, owned by AT&T Inc and BellSouth Corp, bid 139.3 mln usd for 34 licences in the latest round, taking its total provisional bids to 37 licences for 632.9 mln usd.The US Federal Communications Commission started the auction last week and it will run until no more bids are submitted, a process that could take several weeks.The auction covers portions of radio spectrum which companies use to transmit sound, data or images wirelessly.
T-Mobile is expected to be a major bidder as it needs further spectrum in order to compete with its three bigger wireless rivals.
Source- London Stock Exchange
Posted by wirelessfed 