Bids soar in Taiwan's 4G spectrum auction

DigiTimes reports that bid prices in the auction for Taiwanese 4G spectrum are soaring. Despite a total floor price set by the National Communications Commission (NCC) of TWD36 billion (USD1.2 billion), bidding has reached TWD96 billion so far. The NCC notes that competition is greatest for spectrum in the 1800MHz band, where bids for five available blocks have collectively reached TWD65 billion, almost seven times the floor price. Bids for blocks in the 700MHz and 900MHz are currently four and three times the floor price respectively. The report notes that the share prices of bidding cellcos have weakened recently, as investors grow concerned at the risk of companies overpaying for the spectrum.