South Korea’s multi-band spectrum auction raised €1.6 billion with 700-Mhz block remaining unsold. SK Telecom emerged as the biggest spender, which acquired two blocks of 2.6Ghz frequencies for €964 million.
KT, the second-largest local service provider, acquired 20Mhz bandwidth in the 1800Mhz for a minimum price of 451.3 won. LG UPlus won 20Mhz in the 2100 frequency at a reserve price of 381.6 billion won. Korea Times report says that KT might have outperformed LG Uplus since the former’s spectrum comes with a 10-year license while the LG’s 2100Mhz comes with a five-year license only.
Spectrum auction failed to meet the expectations and didn’t record excessive bidding.