Taiwan auction goes on to Friday

date: January 17, 2002

Taiwan's auction for five 3G mobile licenses will continue into its third day on Friday, government officials said.

An official from Taiwan's Directorate General of Telecoms said Thursday the tender period could be stretched out for one to two weeks given the cautious manner of the six bidders. On Thursday the auction ended with four licences uncontested only Far EasTone facing a counter bid.

The battle for the licence sought by Far EasTone throughout Thursday will extend the auction into a third day, as the competition closes only when none of the six competitors submit new bids.

After eight rounds of bidding, Far EasTone continued to hold licence B, but its offer had risen to US$113,800,500, up from Wednesday's bid of $104,989,500. The rise was due to a challenge from 3GO, which had pursued licence E on Wednesday.

Taiwan Cellular held licence A with a $189,981,000 offer, up one percent from the minimum, while state-controlled Chunghwa Telecom held D at $168,349,500, against $168,349,500 previously.

Taiwan PCS Network held C with a 193,099,500 offer, while licence E, the only one contested on Wednesday, was held by Eastern Broadband Telecom at $201,440,250

Total bids for the five licenses Wednesday totaled $866,670,750, just over the government reserve price of $829,795,000.

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