HK auction raises $73m in first two days

Hong Kong's spectrum auction continues into its third day today as some of the territory's biggest carriers vied for wireless broadband real estate.

Regulator Ofta said it had received bids totaling HK$564.8 million in six rounds over the first two days.

Five pre-qualified bidders are bidding for the frequencies, led by local cellcos CSL and Smartone, mainland giant China Mobile HK - who owns mobile firm Peoples - as well as ISP Hong Kong Broadband and Genius, a JV between PCCW and the Hutchison group fixed-line carrier HGC.

The auction resumes at 9.30am Wednesday. Ofta is selling 12 bands in the 2.3GHz and 2.5GHz bands.