Successful conclusion of auction of 5G spectrum in 3.5 GHz band
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"Four bidders, namely China Mobile Hong Kong Company Limited (CMHK), Hong Kong Telecommunications (HKT) Limited (HKT), Hutchison Telephone Company Limited (HTCL) and SmarTone Mobile Communications Limited (SmarTone) took part in the 3.5 GHz band auction. The auction came to a satisfactory conclusion after completion of the quantity phase and the assignment phase today," a spokesman for OFCA said.
The results of the auction are listed in the table below:
| Frequency Block | Frequency Range | Provisional Successful Bidder | SUF Payable |
| A1 – A6 | 3400 – 3460 MHz | CMHK | $300 million |
| A7 – A11 | 3460 – 3510 MHz | HKT | $252 million |
| A12 – A16 | 3510 – 3560 MHz | SmarTone | $252 million |
| A17 – A20 | 3560 – 3600 MHz | HTCL | $202 million |
"The provisional successful bidders are required to pay the SUFs as specified in the table above and to submit performance bonds to guarantee compliance with the network and service rollout requirement by January 14, 2020. Further, they are required to collectively make contributions to a fund for a subsidy scheme to support the upgrade of existing Satellite Master Antenna Television systems by November 25, 2019. The assignment of the spectrum will take effect on April 1, 2020, and be valid for a period of 15 years," the spokesman for OFCA added.
Ends/Monday, October 14, 2019
Issued at HKT 17:00
Issued at HKT 17:00
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