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Hungarian government puts off 3G licence auction
Posted: 17-Jul-2001 [Source: europemedia.net]

[Central Europe continues to struggle with development of UMTS.]

"Finance Minister Mihaly Varga said yesterday that Hungary will not auction Universal Mobile Telecommunications (UMTS) licences this year due to poor investor sentiment in the telecoms sector.

"The government has long adopted a 'wait-and-see' approach to UMTS licence sales, although it has now admitted that the Treasury had written auction revenues of HUF21bn (E83.5m) into its budget forecast for 2001. While the money would certainly have been useful, the state budget is closer to being balanced than many others in the region and the finance ministry clearly decided to wait until there sufficient demand to get a better price.

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