Spectrum bids get hurry-up

By PAULA OLIVER

After four months and 227 rounds, the Government's radio spectrum auction is getting another hurry-up to push it towards an end.

The Ministry of Economic Development yesterday increased the rounds from four to six a day and halved bidding time to 15 minutes.

The auction will end after two consecutive rounds without bidding, but with Clear Communications entering the third-generation (3G) race a week ago, that could be some time away.

The auction's total value decreased from a high of $122 million to end the day at $106 million, after Clear withdrew two bids for 3G. The reserve price will now revert to its starting point until another player enters bids.

Bid withdrawals have become common in the past fortnight, sending the value plummeting one minute and soaring the next.