FRANKFURT, June 13 (Reuters) - Shares in 1&1 Drillisch surged on Thursday after it won spectrum in Germany’s 5G mobile auction that ensured its position as a new fourth operator in a market that has lagged globally.
Germany raised 6.55 billion euros from its 5G mobile spectrum auction, the Federal Network Regulator (BNetzA) said on Wednesday, concluding a near three-month bidding war.
Shares in 1&1 Drillisch, until now a ‘virtual’ mobile player, rose 9.4% at 0754 GMT. United Internet, which controls 1&1, surged 5%.
1&1 paid 1.07 billion euros for 70 MHz, bringing billionaire CEO Ralf Dommermuth closer to his dream of running Germany’s fourth operator. (Reporting by Tom Sims Editing by Thomas Seythal)