June 12, 2019 / 4:49 PM / a month ago

Germany raises 6.55 billion euros in 5G spectrum auction - BNetzA

FRANKFURT, June 12(Reuters) - Germany has raised 6.55 billion euros ($7.4 billion) in its auction of spectrum for 5G mobile services, the Federal Network Regulator (BNetzA) said after a contest lasting nearly three months that will see a fourth operator enter the market.

The sum raised in a record 497 rounds of bidding for the 41 blocks on offer was more than analysts had expected, while operators have complained that the price they were paying would sap their ability to invest in next-generation networks. ($1 = 0.8850 euros)

Reporting by Douglas Busvine; Editing by Tom Sims

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