2 Big Players Likely Driving 28 GHz Auction, Citi Analysts Say; Bids at $317 Million
Citigroup analysts suspect the 28 GHz auction has "two outsized bidders," based on their bidding analysis. "We expect Verizon to be a major participant," given its existing holdings in the band, they wrote investors Wednesday. They noted AT&T, Dish Network,…
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T-Mobile, U.S. Cellular and several financial firms filed as potential bidders, but said it's unclear who else might be driving bidding, which picked up this week. The auction's spectrum was valued 0.4 cents per MHz-POP, with $241.6 million in bids at Tuesday's close, they noted. That compares with $182.1 million the previous Monday (see 1811260045). Bids reached $317 million Wednesday, with provisionally winning bids on 2,496 of 3,072 licenses, said the FCC dashboard. Bidding continues Thursday with four more rounds.