March 19, 2019 / 10:58 AM / 8 months ago

Brisk bidding in first round of German 5G auction

FRANKFURT, March 19 (Reuters) - Germany’s auction of spectrum for 5G mobile networks attracted brisk initial bidding on Tuesday as prospective new market entrant 1&1 Drillisch submitted chunky offers for the frequencies it is interested in.

Results here of first-round bidding showed that Drillisch, which is vying to become Germany's fourth network operator, had submitted offers of more than 20 million euros ($22.7 million) for 10 of the 41 blocks of spectrum on offer.

By contrast, the three existing operators - Deutsche Telekom , Vodafone and Telefonica Deutschland - only put in minimum bids for the blocks they were interested in.

Taken together, first-round bids totalled 288 million euros.

($1 = 0.8808 euros)

Reporting by Douglas Busvine; editing by Thomas Seythal

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