Showing posts with label auction. Show all posts
Showing posts with label auction. Show all posts

Monday, December 12, 2016

Swift, Cobranet win NCC 2-slot auction on 25MHz in 5.4MHz

The Nigerian Communications Commission (NCC) has named Swift Networks and Cobranet, the winners of the recent auction of the Two (2) slot of 25 Mega Hertz (MHz) bandwidth each in the 5.4 MHz frequency spectrum band for utilization in Lagos State, reports ITRealms.

Sources at the Commission, confirmed to ITRealms, weekend, that the auction which had six pre-qualified bidders, was supervised by the Executive Commissioner, Technical Standard at the Commission, Engr. Ubale Maska.

He reportedly ensured that the process was fair, transparent and equitable.

ITRealms also gathered that in fulfillment of the auction requirements, bidders paid a non- refundable 10 per cent of the reserve price which was N18,750,000,000.

NCC, ITRealms reports, equally disclosed that each bidder had a runner who delivered their bid’s amount to the auctioneer and were supervised by the chief runner.

However, ITRealms further reported that the auction ended at the 11th round of bidding with Swift Networks and Cobranet emerging winners of the slot each at N27,659,347.10 per year.

Also present at the event includes Director, Spectrum Administration (NCC), Engr. Austin Nwaulunne, Deputy, Director Policy-Dr. Henry Nkenmadu, and Head, Public Relations, Reuben Muoka among others.

Chuks Egbune/GEE
ITREALMS ... everything news digitally!
Pix: L R Jamil Chaptini Chief Executive Officer Cobranet Limited Mr. Austin Nwaulunne Director Spectrum Administration Nigerian Communications Commission NCC, Engr. Ubale Maska Executive Commissioner Technical Services Nigerian Communications Commission NCC, Mr. Charles Anudu Chief Executive Officer Swift Networks Ltd.

Sunday, August 14, 2016

UK to uphold ‘no single buyer’ rule on Premier League auction

United Kingdom (UK) has concluded plans to introduce ‘no single buyer’ in the forthcoming Premier League Auction, reports ITRealms.
According to information from the Office of Communications (OfCom), this clause has become necessary to eschew the 2014 controversy, which was recently closed from investigations.
This, ITRealms gathered, will ensure more than one broadcaster has access to rights.
At the last count, 42 matches per season will be reserved for a second buyer, of which a minimum of 30 will be available for broadcast at the weekends.
Ofcom, ITRealms recalls is the communications regulator; including TV, radio and video on demand sectors, fixed line telecoms, mobiles, postal services, plus the airwaves over which wireless devices operate.

ITREALMS ... everything news digitally!

Friday, May 20, 2016

One qualifier emerges in 70 MHz auction by NCC

The Nigerian Communications Commission (NCC) has proclaimed that only one bidder qualified from the auction of 70 MHz in the 2.6 GHz Spectrum Band published on February 25, 2016, reports ITRealms.

Director, Public Affairs at NCC, Mr. Tony Ojobo, said that the auction conducted on behalf of the Federal Government of Nigeria, closed for submission of applications on April 29, 2016, and “produced one Qualified Bidder.”

Ojobo said, the qualified bidder expressed an interest to bid for Six (6) lots, out of the Fourteen (14) lots on offer and paid the bid deposit as specified by the Information Memorandum (IM) on the Auction.

He also said, the need for an auction event no longer arose as the IM, stated that “If the aggregate demand from Approved Bidders is less than, or equal to the number of lots on offer, the Commission will provisionally award the license to the party or parties at the reserve price”.

The Commission, he said, is currently undertaking a due diligence with a view to issuing a letter of award of license for the cumulative 30MHz in the 2.6GHz Frequency.

“Upon approval, the Qualified Bidder will be required to pay a total US$96,000,000 (Ninety Six Million US Dollars) for the license,” he said.

The Commission, Ojobo said, expressed profound gratitude to all telecom stakeholders for the interests shown in the auction process for the 2.6GHz Spectrum Band.

ITREALMS ... everything news digitally!