MTN, MAFAB win 5G licenses @$273.6m



…Airtel drops off @$270m

By Prince Osuagwu

In a dramatic fashion, a telecom under dog, MAFAB Communications, emerged from nowhere, Monday, to become one of the winners of 3.5GHz Spectrum licenses.
The licenses are necessary to deploy 5G services in Nigeria.

The other winner is MTN Nigeria.

The third bidder, Airtel Nigeria, dropped out at $270m.

The winning price was $273, 600,000 million and the winners are expected to pay on or before February 24, 2022.

They are to pay in Naira denomination at the prevailing CBN rate.

Announcing result of the auction, Executive Vice Chairman of Nigerian Communications Commission, NCC, Prof Umar Danbatta, said MTN Nigeria was the highest bidder with additional $15,900,000 million to get Lot 1, while MAFAB Communications added $11,120,000 million to get Lot 2.

The auction was keenly contested with the three bidders participating actively till the 11th round.

The bid opened with $199, 374m, from the reserved bid of…

Source: Vanguard Newspaper

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