By Will Sturgeon, 19 November 2001 09:38
NEWS Vodafone has received a boost to its plans for expansion across the Atlantic, with the US telecoms regulator granting its stateside partner the largest block of 3G mobile phone licences. Verizon Wireless, in which Vodafone holds a 45 per cent stake, has been granted licences for New York and other areas, after the licences were re-auctioned following original owner NextWave Telecom's insolvency. The re-auctioning of the licences took place in January and Verizon's $8.7bn bid proved successful, but the courts subsequently ruled the process unlawful. However, 11 months on, and after stuttering negotiations, the Federal Communications Commission has ruled that January's auction result should stand. In total the licences which NextWave defaulted on raised $16bn at auction. NextWave will now receive $6bn and the US Treasury will take $10bn.
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