ECONOMY

All Greek mobile operators bid in frequency auction

Greece has received three bids for the sale of mobile phone frequencies aimed at upgrading telecom services in the country, the telecoms regulator said on Tuesday.

Greece’s biggest telecoms operator OTE and Wind Hellas submitted offers to buy mobile radio frequency rights within the 800 and 2,600 MHz band, telecoms regulator EETT said in a statement.

The deadline for offers expired on Monday.

The auction is part of Greece’s 22-billion-euro privatization plan agreed with its international lenders, the European Union and the International Monetary Fund, under a 240-billion-euro bailout.

The minimum price for the radio frequencies has been set at 380 million euros, according to the tender document.

Greece’s 3-billion-euro mobile phone market has been contracting in recent years, hurt by intense competition among operators and falling usage amid an austerity-induced recession.

[Reuters]