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Italy Accepts All Seven Applicants for Wireless Phone Auction
Posted: 24-Sep-2000 [Source: Bloomberg]

[Italy's wireless phone auction to begin in October expected to net 25 billion euros ($21.5 billion US dollars).]

Eric Sylvers, Rome -- "Italy accepted all seven companies that applied to join next month's mobile-phone license auction, in which five licenses are expected to fetch a total of 25 billion euros ($21.5 billion).

"The business plans of the four incumbents and three newcomers, which detail investment and job creation targets, met the requirements to proceed to the auction, said Michele Lauria, an Undersecretary at Italy's Telecommunications Ministry.

"The seven groups meet the necessary requirements to move on to the auction which should begin in early October," Lauria said in a telephone interview.

"The U.K, Netherlands and Germany have raised a total of 90 billion euros from auctions for the mobile-phone licenses, which allow the use of the Universal Mobile Telecommunications System to offer fast access to audio, video and the Internet


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