Auction 97 Momentum Slowing, Analysts Say
Bids for AWS-3 spectrum reached more than $40 billion at the end of day 12 Tuesday of Auction 97. Bids rose 0.5 percent in rounds 42-43 and 0.3 percent in rounds 44-45, UBS analysts said Wednesday in a research note.…
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The top 25 markets commanded an average price of $3.89/MHz POP for paired spectrum, they said. Atlanta was the most active market, rising 6.2 percent from day 11, followed by Pittsburgh and Sacramento, analysts said. Despite no new bids, Chicago remained in the lead, followed by New York and Los Angeles, UBS said. Auction 97 could run at a slower pace for an extended period, it said. The AWS-1 and 700 MHz auctions lasted for 161 and 261 rounds respectively, with minimal activity after rounds 52 and 27, it said. The momentum of the action is slowing, Evercore analysts said in a research note. The end of the auction “could be soon,” they said. The focus will shift “to how the bidders will finance their bids and when they have to finance them by,” Evercore said. The bidding exceeded the reserve price shortly after the auction started last month (see 1411180061).