Movistar complies with spectrum sell-off ruling, sets price at USD30 million

17 Nov 2005

Movistar Chile, the local unit of Spain’s Telefónica Móviles (TEM), has set a minimum price of USD30 million for the 25MHz of spectrum that it has been ordered to auction by Chile’s antitrust tribunal, the TDLC. Movistar presented its proposal for the auctioning of the spectrum in the 800MHz band to the TDLC this week, which was one of the conditions the tribunal established early this year to approve TEM’s acquisition of BellSouth Chile. Movistar has asked to be given until the end of June 2006 to transfer the spectrum; if the auction fails to attract the set minimum price, it must choose to either award the frequency to the highest bidder or hand back the spectrum to the authorities.