Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (95816)	3/16/2001 1:34:04 AM
From: T L Comiskey	Respond to of 152472

Friday March 16, 1:28 am Eastern Time Australia 3G bids total A$842.4 mln after day two (UPDATE: Adds analyst comment) SYDNEY, March 16 (Reuters) - At the end of day two of the Australian government's auction on Friday for third generation radio spectrum, the total of the high bids nudged up to A$842.35 million from A$804.35 million on Thursday. The aggregate reserve price was set at A$1.08 billion. The six bidders remaining in the auction are Telstra Corp Ltd (Australia:TLS.AX - news), Cable & Wireless Optus Ltd (Australia:CWO.AX - news), Vodafone Group Plc (quote from Yahoo! UK & Ireland: VOD.L), Qualcomm Inc's (NasdaqNM:QCOM - news) 3G Investments, Hutchison Telecommunications (Australia) Ltd (Australia:HTA.AX - news), and ArrayCommInc's CKW Wireless. Analysts said the major players were still jockeying for position and the bidding would likely heat up on Monday or Tuesday and could be finalised as soon as next Friday. ``There's enough room there for them all to get a national licence but Optus, Telstra and Vodafone would like to push 3G Investments to really see how much they're prepared to pay,'' said Reg Coutts, professor of telecommunications at the University of Adelaide. The bids should easily reach the aggregate reserve price based on the offers laid on the table so far, but were unlikely to touch the government's target of raising around A$2 billion from 3G spectrum auctions, Coutts said. The government has estimated it would raise about A$2.6 billion from total spectrum sales this fiscal year to end-June, but the forecast was made last May before a global downturn in telco stocks amid concern at capital spending. 3G mobile phone technology is expected to provide high-speed Internet access, data, video and CD-quality music services. A breakdown on the bids so far showed that Telstra had bid A$221.3 million, Hutchison A$196.1 million, Optus had not bid, 3G Investments bid A$185.5 million, Vodafone A$231.5 million and CKW Wireless A$7.95 million. Successful bidders in the Australian auction will be allocated licences with a 15-year term, starting October 2002.