Italy $3.5 Billion Spectrum Sale at Risk in ‘Wild West’ Spat

Italy, trying to cut its deficit, may be thwarted in a bid to raise 2.4 billion euros ($3.5 billion) by auctioning frequencies, as broadcasters and phone companies resist the “chaotic” sale.

Local television channels, who occupy most of the frequencies to be sold, say they may refuse to free the spectrum if the government doesn’t offer higher compensation. Mobile-phone operators, the likely buyers, say the frequencies aren’t worth the price if the broadcasters don’t allow immediate access.