Taiwan auction almost reaches NT40 billion

date: January 25, 2002

Taiwan's 3G wireless auction mobile licenses ended its ninth day on Friday with bids for License E reaching NT$9.009 billion (US$1=NT$35.052) and topping the other four on sale.

Yuan-Ze Telecom remained outbid for a license for the fifth day in a row.

Bids totaled NT$40.425 billion, up from NT$39.665 billion Thursday and already a 20.3% premium over the total reserve price of NT$33.6 billion.

The auction will take place again on Saturday.

Here's the result of the auction on Friday's close:

License A- Taiwan PCS Network remained the highest bidder with NT$8.495 billion.

License B- 3GO Telecommunications Corp. remained the highest bidder with NT$6.008 billion.

License C- Taiwan Cellular Corp. had the highest bid of NT$8.418 billion.

License D- Chunghwa Telecom Co. bid at NT$8.495 billion.

License E- Asia Pacific Broadband Wireless Communications posted the highest bid of NT$9.009 billion.

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