Metro PCS still leading auction 58
Feb 01 2005 - 01:58 PM ET | In The News
Metro PCS is still the leading bidder
in FCC spectrum Auction 58
. 35 companies are bidding for 242 wireless spectrum licenses over such valuable turf as LA and Denver.
18 rounds of bidding have finished so far, but the auction is expected to continue for some time. The highest single bid, $374.5 million, was made by Metro PCS for a 10-megahertz license covering Los Angeles.
Verizon is the second highest spender, followed by T-Mobile USA. Verizon has recently bought some spectrum outside of the auction (through buying smaller carriers), but not enough to slow down bidding like some insiders predicted.