GSM auction resumes with current bids at GBP9.75 million

30 Oct 2003

The sale of Cyprus’s first private sector GSM licence resumes today. The current price tendered of GBP9.75 million is already higher than the regulator’s minimum fee with several companies battling fiercely for the 20-year concession. The leading contenders are Cosmote Cyprus, an affiliate of Cosmote of Greece, and Scancom, a consortium formed by Lebanese and Cypriot investors.