Taiwan auction in 5th round

date: January 16, 2002

Taiwan started the auction of its five 3G mobile phone licenses Wednesday and as of early afternoon is in its 5th bidding round, said an official in the Ministry of Transportation and Communications.

A ministry official at the auction said he expects the auction could last into Thursday as none of the six participants appear to be backing out from the auction.

The bidding would proceed in half-hour rounds, and could be raised by a maximum of seven percent in each successive round. No leading bidder will be allowed to raise its own bid, and the process will continue until there are no new bids, the official said.

Six bidders are participating in the auction - Chunghwa Telecom, Taiwan Cellular, Far EasTone, Eastern Broadband Telecom, 3GO and Union Telecom.

According to the latest report by a local paper, after the second round, the bids for the five licenses reached a total of NT$34.2 billion.

The required minimum bids for Taiwan's five licences range from T$7.6 billion (US$217 million) to T$4.2 billion, with the cost difference largely determined by radio spectrum.

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