The government raised $1.81 billion in the multiband spectrum auction
South Korea obtained 2.11 trillion won ($1.81 billion) in a recent multiband spectrum auction, well below the market expectation of 2.5 trillion won. The country’s largest mobile operator SK Telecom picked up both blocks of 2.6 GHz frequencies, agreeing to pay 1.28 trillion won for the 60 megahertz of spectrum.
Meanwhile, rival operator KT acquired 20 megahertz of bandwidth in the 1800 MHz band for a minimum bidding price of 451.3 billion won. LG Uplus obtained 20 megahertz in the 2.1 GHz frequency at a reserve price of 381.6 billion won. KT’s license for the 1800 MHz airwaves will be valid for a five-year period while LG Uplus’ license will be valid for 10 years. A package of 700 MHz airwaves, priced at 762 billion won, failed to attract a buyer.
According to SK Telecom’s latest financial report, the mobile carrier ended the first quarter of 2016 with 28.9 million mobile subscribers. The telco initially launched LTE in the South Korean market in July 2011 through spectrum in the 850 MHz band, and also offers LTE services through spectrum in the 1800 MHz and 2.1 GHz bands. SK Telecom currently counts 19.5 million LTE customers.
Rival operator KT counted 18.2 million wireless subscribers at the end of March 2016, including 13.2 million LTE customers. The telco offers LTE services using spectrum in the 900 MHz, 1800 MHz and 2.1 GHz bands. KT initially launched its LTE offering in January 2012.
LG Uplus reported 12.10 million subscribers at the end of the third quarter of 2015, with LTE customers accounting for 84% of the carrier’s overall subscriber base at the end of Q1. LG Uplus currently offers LTE services using spectrum in the 850 MHz, 2.1 GHz and 2.6 GHz bands.
Vodafone selects banks to carry out IPO in India
In other APAC news, Indian mobile operator Vodafone selected Deutsche Bank, HSBC, and India’s ICICI Securities to take part in an initial public offering, according to a report by local paper Business Standard.
According to the report, those banks were selected as lead book runners, while Bank of America Merrill Lynch, UBS and Kotak Securities will coordinate the offering.
The IPO is expected to raise 165 billion rupees ($2.48 billion), according to the report. Vodafone Group’s CEO Vittorio Colao told reporters at this year’s Mobile World Congress an IPO in India could happen in late 2016 or in 2017.
