Many interests in Greek 3G auction

date: May 30, 2001

The Greek government said on Tuesday there were a list of seven groups which shown interested on chasing four auction 3G licences in July.

The list shown four foreign firms Hutchison 3G, Orange SA, Wind Tele and DEH Telecoms.

The three local operators were Greece's three mobile operators: CosmOTE , STET Hellas and Panafon.

Regulator National Post and Telecommunications Commission plans to auction four 3G licences on July 11 at a starting price of $130million each, but will auction three if a fourth bidder does not appear.

If four licences are awarded, successful bidders will pay 40 percent of the bid upfront and the remainder in four annual instalments from 2005. If three are awarded, successful bidders will pay 70 percent of the bid upfront. If only two appeared, the license will be awarded at a set price.

All parties interested in the auction will be published on June 1.

see also: Greece 3G information

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