Greece has received three bids for the sale of mobile phone frequencies aiming to the developement of the Greek telecom services.
Greece’s major telecom operators OTE, Vodafone and Wind Hellas have submitted their offers to buy mobile radio frequency rights within the 800 MHz and 2,600 MHz bands, The deadline for offers expired on Monday.
It is estimated that OTE’s mobile unit, Cosmote, owns about 40% of the Greek mobile phone market, while Vodafone and Wind hold about 30% each.
According to a tender document, the minimum price for the radio frequencies has been set at 380 million euros.
During the last six years, the Greek 3 billion euro mobile phone market has been severely damaged due to intense competition among operators and falling usage amid the recession.
The auction is part of Greece’s 22 billion euro ($28 billion) privatization program agreed between the Greek government and the Troika, in return for a 240-billion-euro bailout.