Radio spectrum sale pace speeds up

The Government's radio spectrum auction gained some momentum yesterday when a rule change forced bidders to spend more to secure a lot.

Bidding for second-generation (2G) spectrum saw the most action, with some management rights lifting from $400,000 to $500,000 in one hit.

The cash tied up in 2G lots now accentuates the bargain third-generation (3G) spectrum looks set to sell for. Many 2G lots are now sitting at $500,000 or more, closer to the stranded 3G lots, which average $3 million.

After nine weeks of slow progress, the Ministry of Economic Development this week implemented rule changes, increasing the number of rounds each day to four and lifting the minimum bid requirement.