Ofcom raises £2.3bn from 4G auction

Broadband like speeds on your smart phone should soon be available to customers on five networks.

The winning bidders are Everything Everywhere; Hutchison 3G UK; Niche Spectrum Ventures, a BT subsidiary; Telefonica (O2); and Vodafone.

They will pay a total of £2.3bn, but the spectrum auction raised around £1bn less than the Office for Budget Responsibility (OBR) had forecast.

Rory Cellan-Jones reports.

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