Peru’s Ministry of Transport and Communication (Ministerio de Transportes y Comunicaciones, MTC) has awarded LTE-compatible spectrum in the 700MHz band to Entel, Claro and Movistar, the Agency for the Promotion of Private Investment (Agencia de Promocion de la Inversion Privada, ProInversion) has announced. Each of the trio was awarded a 2×15MHz spectrum block, valid for 20 years. Chilean-owned Entel was awarded Block A with a bid of USD290.21 million, just ahead of the reserve price of USD284.70 million, whilst Block B was won by Claro with a bid of USD306.00 million and Block C went to Movistar for USD315.01 million. Vietnamese-backed newcomer Bitel also submitted an offer for the airwaves, but failed to secure any spectrum. Under the terms of the new concessions, the licensees are required to roll out LTE services to 195 unserved or underserved towns. According to sector watchdog the Supervisory Agency for Private Investment in Telecommunications (Organismo Supervisor de Inversion Privada en Telecommuniciones, Osiptel) the winners must cover 15 towns within the first year, a further 129 in the second year and 51 more in the third.