Quick View: Greece Operators To Maintain Cautious Approach Following 5G Auction

摘要

The Latest: Greece has auctioned 5G-suitable spectrum in the 700MHz, 2GHz, 3.5GHz and 26GHz bands, raising a total ofEUR372.3mn. All three MNOs - Vodafone, Cosmote and Wind Hellas - secured at least one block in each band.Implications: Following the auction, Greece has become one of the few European countries to have auctioned spectrum in allthree 5G-enabled frequency bands. We believe one of the motives behind this decision was to rapidly raise revenues to help paydown the country’s high debt burden. However, due to spectrum availability, relatively low competitive pressures and uncertaintyaround returns on investment, Greek operators did not bid aggressively. Therefore, the auction raised a relatively modest amount,especially compared to the result of the Italian or German 5G auctions in 2018 and 2019 respectively.