MTN, MAFAB emerge winners of 5G spectrum bid
MTN Nigeria and MAFAB Communications Ltd. have emerged winners of the Nigerian Communications Commission’s (NCC’s) 3.5 gigahertz (GHz) Fifth Generation (5G) technology spectrum auction.
The 5G technology spectrum auction ended with the total sum of $273.6 million per lot of 100 MHz TDD.
The bidding was in two stages that came in the main stage and the assignment stage.
In the assignment stage, two slots of 100MHzTDD available at the 3.5GHz band were up for bidding to support the delivery of broadband services for the deployment of 5G in Nigeria.
The bidders were MTN, Airtel Nigeria and MAFAB. It ended at the main stage and dropped down to two bidders.
NCC was auctioning two slots in the 3.5 gigahertz (GHz) 5G spectrum on Monday and in conjunction with the Ministry of Communications and Digital Economy in Abuja.
The first round of the auction, which took off with the three bidders, started with the price of the spectrum from $197.4m to $199, 374 million until it ended in round 10 at $263,017,050.77 million.
The executive chairman of NCC, Umar Danbatta, who announced the results, said the commission followed due process for the bidding.
“Arising from the above, the Winning Bid Price for the auction is $273,600,000 for each lot of 100 MHz TDD.”
“The Provisional Licence Winners are expected to pay the Winning Bid Price less the Intention-to-Bid Deposit, by February 24, 2022.
The successful bidders are anticipated to choose the 3.5 GHz frequency band at the end of the main auction.
(NAN)
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