New rules boost radio spectrum bids

By PAULA OLIVER

Spurred by recent rule changes, bids in the Government's radio spectrum auction yesterday cracked the $1 million mark for second-generation lots.

Bids for the supposedly less attractive second-generation spectrum are now nearing the same amount as third-generation spectrum. Total bids have reached $46.6 million.

Telstra Saturn and Walker Wireless appeared locked in a bidding war yesterday over one particular lot of spectrum, lifting the price from $610,000 in the morning to $1.1 million in the afternoon.

Bids for smaller licences have risen up to $15,000 in some cases, from an average of $500 last week.