Taiwan's auction for 4G spectrum is now into its 25th day, with bids already more than double the base price, according to the National Communications Commission (NCC).
The total bid volume reached NT$81.12 billion ($2.76 billion) Monday after 240 rounds of bidding over 24 days, according the NCC’s website on Monday. This is more than two times the NT$35.9 billion ($1.21 billion) the regulator had set as a minimum.
Industry watchers said the bidding prices offered have been much higher than expected and the auction was taking longer than expected.
Bidding for the five 1800-MHz band units has been much more intense than for the four 700-MHz and three 900-MHz units, NCC indicated.
The total bidding price for the 1800-MHz band was NT$52.405 billion while the 700-MHz band was NT$22.38 billion and the 900-MHz band was NT$6.335 billion.
The seven participants are 3G incumbents Chunghwa Telecom, Taiwan Mobile, Far EasTone and Asia Pacific Telecom, Hon Hai affiliate Ambit Microsystems, and two new telecom companies set up by Taiwanese conglomerates Ting Hsin International Group and Shinkong Group.
But the telecom arm of the Taiwanese conglomerate Shingkong Group was ousted from the auction on the sixth day, after the company abstained from the bidding up to four times, the regulator said in a statement.
The bidding is still going on and the six bidders will continue to compete for the 4G licenses in the auction today.