Spectrum auction breaks the $50m barrier

By PAULA OLIVER

The Government's faltering radio spectrum auction finally cracked the $50 million mark yesterday, and then slowed its pace with another clear round.

If no bids are received in this morning's first round the auction will end, but that seems unlikely. Ihug director Nick Wood has adopted a policy of bidding only after one clear round, and a similar strategy by Hutchison Telecommunications should let the auction live to fight another day.

Second-generation (2G) bidding is still the auction's hotspot, with several lots now approaching $1 million, just short of their apparently lucrative cousins, third-generation (3G) spectrum.

No bidders have yet challenged the original bids made more than two months ago for 3G spectrum, by Vodafone, Telstra Saturn and Telecom.

But after rule changes a week ago, clear rounds are becoming more frequent.

The auction may not be too far away from completion.