" ITREALMS: 3.5GHz Spectrum auction enters 4th rounds with bidders @$204,388,256.10 - ITREALMS

Monday, December 13, 2021

3.5GHz Spectrum auction enters 4th rounds with bidders @$204,388,256.10 - ITREALMS

The 3.5 GHz Spectrum  auction by the Nigerian Communications Commission (NCC) has entered fourth round for the deployment of 5G, reports ITREALMS.

This follows the conclusion of the third rounds of the exercise with all the three bidders closing on $204,388,256.10.

ITREALMS recalls that the first round of the ongoing 5G Spectrum license auction, commenced precisely by 12.58 pm on Monday at the Transcorp Hilton in Abuja with the opening bid price of $199,347,000, up from the reserved price of $197.4 million.

ITREALMS also gathered that earlier the three bidders were given 20 minutes to indicate their agreement with the current bid price, reject the price or indicate a much higher price.

Noteworthy is that at the end of the first round all the three bidders agreed to pay the current offer of $199.347 million.

This bidding prince has since gone up into the second and now the third price of $204,388,256.10.

ITREALMS reports that the auction commenced with  a brief ceremony with some remarks by the Minister of Communication and Digital Communication, Professor Isa Ibrahim Pantami, Chairman of the Nigerian Communications Commission ( NCC) board of directors, Professor Adeolu Akande and Executive Vice Chairman of the NCC, Professor Umar Danbatta addressed the participants and observers on the imperative of the spectrum auction.

Remmy Nweke in Abuja

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