the sole bidder, Airtel will now shell out the sum of $273.6m as payment for a Lot of 100MHz in the 3.5GHz spectrum band.
“Having met all the provisions in the IM, Airtel has therefore emerged as the sole Bidder,” Muoka said.How times and fortunes change! The first 5G Auction held in Nigeria last year with MTN and a hardly known MAFAB becoming the pioneer winners, with each paying the sum of $273.6m for a Lot of 100MHz. Airtel posted an Exit Bid of $270m.
Definite decisions. Airtel’s wish was refused. The window of 100MHz as the upper limit for an operator was adjusted to 200MHz, meaning MTN could participate and that even a bidder could snap up the two Lots. So, ironies conspired to collapse the plans. MTN froze on its plans, perhaps taking a cautionary appraisal of the market it has invested so much in, Airtel had its way to pay the Reserve Price , while the little other outfit that had interest couldn’t survive the heat of an unpredictable market. Nobody would be ready to lay out that kind of money to an upstart in an industry where sharks could be complimented as friends.
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