Germany raises €6.55bil in epic 5G spectrum auction

FILE PHOTO: A journalist uses his mobile phone to take a picture of the 5G logo prior to the auction of spectrum for 5G services at the Bundesnetzagentur head quarters in Mainz, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT: Germany raised €6.55bil (RM30.80bil) from its 5G mobile spectrum auction, the Federal Network Regulator (BNetzA) said on June 12 after a near three-month battle that will see a fourth operator enter the market.

The sum pledged in a record 497 rounds of bidding for the 41 blocks on offer was more than analysts had expected, while operators complained that the price they were paying would sap their ability to invest in next-generation networks.