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Telecom Invest wins third 3G licence

24 May 2006

Telecom Invest Georgia has won an auction for 3G frequencies, beating off rival bids from the country’s largest 2G operator Geocell and an unnamed Italian individual. Telecom Invest won frequencies in the 1950MHz-1965MHz, 2010MHz-2015MHz and 2140MHz-2155MHz bands with an offer of GEL18.68 million (USD8.69 million), more than double the starting price of GEL8.5 million. At an earlier auction in February, Georgian telco Argotex, agreed to pay GEL19.9 million for a similar 3G concession while 2G operator MagtiCom secured frequencies with a bid of GEL26.13 million.


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