Spirited bid for spectrum

PAULA OLIVER talks to a liquor importer who sees a chance to diversify.

An importer of Kentucky bourbon could lift spirits at the Government's radio spectrum auction.

Ian Britton, a director of the family-owned company Heaven Hill Distilleries (NZ), gave the auction some much-needed colour yesterday with his surprise registration as a bidder.

Mr Britton and several family members import and distribute Kentucky bourbon, Scotch and Irish whiskies, liqueurs and French wine through Wellington-based Heaven Hill NZ.

Another kind of liquid gold occupies the rest of Mr Britton's time, in the form of motor oil import and distribution company D.R. Britton.

A move into radio spectrum seems a world away from those more traditional markets but, speaking from Sydney yesterday, Mr Britton said he was aware that the business world was changing.

"I guess you could say that it's a different area," he said. "But the business world is changing, and if opportunities present themselves you have to think about taking them."

Mr Britton admitted that the bargain prices on offer at the snail-pace auction did play their part in attracting him, but like all other bidders he was keeping his intentions to himself.

"The time to get into an auction is when prices are low, and things seem to be below their actual value," he said.

Heaven Hill NZ, founded in 1993, imports its products from similarly family-owned Heaven Hill Distilleries USA, Kentucky.

Mr Britton's addition to the auction mix adds a little more intrigue to an otherwise dour affair, which again failed to ignite yesterday.

Action for second-generation (2G) spectrum remains competitive, with Ihug again lifting the stakes by making sweeping bids for management rights.

Another little-known bidder, John Yaldwyn, chipped in with two afternoon bids totalling $160,000 for 2G, but the lucrative third-generation (3G) spectrum continues to be a fizzer.

If a challenger for the big three of Vodafone, Telstra Saturn and Telecom exists, it has yet to reveal itself.

Rumours persist that Jump Capital, backed by Fay, Richwhite and the Todd family, will enter the race. Until they do, the three large telcos are nervously perched, awaiting a raid.