German 5G Auction bid hitting bottom line of expert analyst

Bidding in Germany's auction of 5G airwaves was approaching the bottom end of analyst estimates Thursday morning, with companies offering about €2.9 billion ($3.3 billion) for the licenses to operate next-generation network services.

Financial analysts cited in the mainstream press expect the spectrum sale to rake in between €3 billion ($3.4 billion) and €5 billion ($5.6 billion) for the German government, which has been criticized for restricting the amount of spectrum sold to operators and attaching tough coverage obligations to 5G licenses.

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