Yuan-Ze Telecom outbid again in Taiwan

date: January 24, 2002

Taiwan's auction of five 3G mobile licenses ended its eighth day Thursday, with bids totaling NT$39.665 billion (US1=NT$35.076) and Yuan-Ze Telecom in its fourth day of being outbid for a license.

The auction will start again on Friday. Bidders can raise the price a maximum 7% in each round and the auction doesn't end until one bidder drops out.

At the end of Thursday, the bids stood as follows:

License A: Taiwan PCS Network remained the highest bidder, with an offer of NT$8.326 billion, up from Wednesday's NT$8.161 billion. The government-set reserve price is NT$7.6 billion.

License B: 3GO Telecommunications Corp. bids for the license with NT$5.771 billion, up from Wednesday's NT$5.656 billion. The reserve price is NT$4.2 billion.

License C: Taiwan Cellular Corp. remained the highest bidder with NT$8.418 billion, up from Wednesday's NT$8.251 billion. The reserve price is NT$7.6 billion.

License D: Chunghwa Telecom Co. remained the highest bidder with NT$8.495 billion, compared with Wednesday's NT$8.326 billion. The reserve price is NT$6.7 billion.

License E: Asia Pacific Broadband Wireless Communications Inc. posted the highest bid of NT$8.655 billion, up from Wednesday's NT$8.484 billion. The reserve price is NT$7.5 billion.

Yuan-Ze Telecom Co., a joint venture between Far EasTone Telecommunications Co. and AT&T Wireless Services had failed to make the highest bid for any of the five licenses on offer when the bidding stopped Thursday.

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