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FCC delays US wireless auction by six months
Posted: 01-Feb-2001 [Source: Financial Times]

[Next auction involving a number of large regional licenses has been postponed until September 12.]

by Richard Waters, New York -- "A national auction of US wireless spectrum that had been planned for March was postponed on Wednesday for six months, following requests from potential bidders.

"News of the delay, which had been expected, comes less than a week after the completion of a separate auction in the US that raised $16.86bn.

"The Federal Communications Commission said it had delayed the auction after receiving submissions from a number of companies, including Verizon Wireless, the biggest player in the most recent auction with successful bids totalling $8.8bn.

"Wireless companies hope that the delay will give them time to complete a number of financing plans and other structural moves before the bidding starts.


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