German Airwave Auction Raises $5.7 Billion to Top 2010 Sale
This article is for subscribers only.
Germany’s government raised more than 5 billion euros ($5.7 billion) from an auction of mobile-phone frequencies, exceeding the proceeds from a sale five years ago.
Vodafone Group Plc’s German unit pledged to pay 2.09 billion euros, followed by Deutsche Telekom AG with 1.79 billion euros, according to a statement from the Federal Network Agency. Telefonica Deutschland Holding AG is spending 1.2 billion euros. The 5.08 billion-euro total was about 16 percent more than the proceeds raised from four carriers in a previous auction in 2010.