Canadian spectrum auction bids top $2.5B

Just one week into the bidding and Industry Canada's spectrum auction is already exceeding expectations. The government agency reports that as of yesterday 20 players had bid more than $2.5 billion for the 105 megahertz of spectrum being sold.  About 40 megahertz of that spectrum was earmarked for new players. Although the auction is still in its early stages it has already surpassed expectations. Analysts had expected the government would raise no more than $1.5 billion.

Bidders for the spectrum include Globalive Communications, which has bid $226.7 million; and Data & Audio-Visual Enterprises Wireless Inc., a venture between Canadian satellite radio king John Bitove and Microsoft co-founder Paul Allen. Data & Audio-Viusual has bid $174.1 million so far.

For more:
- see this report

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Canadian spectrum auctions begin today.