By Sarah Left, 17 August 2000 17:45
NEWS The German government has netted E50.5bn (£30.5bn) as the auction for third generation mobile phone licences closed today. Six bidders walked away with 3G spectrum: Deutsche Telekom; E-Plus, a joint venture with Hutchison Whampoa and KPN; Group 3G, a Sonera and Telefonica venture; Mobilcom, a France Telecom company; Mannesmann Mobilfunk, backed by Vodafone; and Viag Interkom, backed by BT, E.On, and Telenor. The high cost of the licences has sent the stock prices of some of the winners tumbling downwards, as investors question the viability of winning back the investment.
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