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U.S. Wireless Auction Almost Over
Posted: 26-Jan-2001 [Source: by Jeremy Pelofsky, Washington]

[New York City going for $11 per megahertz per potential customer.]

Bidding almost ground to an end on Thursday in the Federal Communications Commission (news - web sites)'s auction of valuable airwaves to providers of wireless services as offers reached a record $16.85 billion after 99 rounds.

Only five new high bids were placed in the last round held during the Thursday afternoon session as companies battled over smaller markets like Cheyenne, Wyo., Columbus, Ind. and Walla Walla, Wash., FCC (news - web sites) data showed.

Verizon Wireless, the joint venture of Verizon Communications (NYSE:VZ - news) and Vodafone Group Plc (NYSE:VOD - news) (VOD.L), remained in a commanding lead in the overall auction, offering $8.78 billion for 113 licenses, including $2 billion for each of two licenses covering New York City.


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