Hong Kong’s telecoms regulator raised HK$2.42bn (US$312.2m) in its sale of 49.2 MHz of paired spectrum in the 1.9-2.2 GHz band after six bidding rounds.
SmarTone and China Mobile bought two blocks each for HK$980.4m (US$126.4m) and HK$970.4m…
Hong Kong’s telecoms regulator raised HK$2.42bn (US$312.2m) in its sale of 49.2 MHz of paired spectrum in the 1.9-2.2 GHz band after six bidding rounds.
SmarTone and China Mobile bought two blocks each for HK$980.4m (US$126.4m) and HK$970.4m (US$125.1m), respectively, while Hutchison Whampoa’s 3 unit paid HK$470.4m (US$60.7m) for one block.
The frequencies were part of the 118.4MHz of 1.9-2.2 GHz band spectrum that was assigned in 2001 to SmarTone, 3, HKT and CSL.
HKT recently acquired CSL and the combined group was barred from taking part in the auction under regulatory conditions tied to that deal. However, HKT, along with SmarTone and 3, accepted the right of first refusal in August 2014 for the reassignment of the remaining 69.2 MHz of the spectrum issued in 2001.
The new 15-year spectrum licences start from October 2016, when the old ones expire.
“While 29.6 MHz out of the 118.4 MHz in the 1.9-2.2 GHz band will change hands with effect from October 2016 (i.e. from HKT to SmarTone and [China Mobile]), the incumbent and the new spectrum assignees would have about two years to prepare for the necessary network reconfiguration and the roll out of their networks respectively,” said a spokesperson for Hong Kong’s Office of the Communications Authority.
The auction had a base price per MHz of HK$48m (US$6.2m), or HK$2.36bn (US$304.5m) in total.
