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Peru raises USD 911 million in 700 MHz tender
2016-05-27 08:42:00| Telecompaper Headlines
(Telecompaper) Peru's private investment promotion agency ProInversion has announced that Movistar (Telefonica), Claro (America Movil) and Entel secured spectrum in the 700 MHz band for 4G-LTE services in a long-delayed auction finally held on 26 May. The state ended up collecting USD 911.2 million for the three 15 + 15 MHz blocks made available, above the reserve price of USD 854.1 million that had drawn criticism for being too high. Block A went to Entel for USD 290 million, block B to Claro for USD 306 million and block C to Movistar for USD 315 million, said ProInversion, adding that the licences are for a period of 20 years and can be renewed. The newly released spectrum will be used to complement existing 4G LTE services offered by Movistar, Claro, Entel and Bitel using the AWS band, with the successful bidders each committing to bringing 4G services to at least 190 localities over five years as well as guaranteeing download speeds of at least 1 Mbps.
Tags: million
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Category:Telecommunications
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