The UK airwave auction has fallen well below early estimates after only raising £2.3 billion with five bidders successfully acquiring spectrum.
Analysts had anticipated as much as £3.5 billion would be raised from the auction, and this sum had already reportedly been factored into government accounts for this year.
The auction was fiercely contested, despite only raising a 10th of the £22.5 billion raised during the 3G auction in 2000.
As the auction finally draws towards a close, the UK will finally...
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