Brazil to reschedule auction for unsold 5G spectrum, minister says

SAO PAULO: Brazilian Communications Minister Fabio Faria said on Friday that the government may schedule a new 5G spectrum auction to sell batches that did not attract interest, mainly in the 26 GHZ frequency.

Brazil telecom regulator Anatel concluded an auction on Friday with Faria saying in a news conference that the sale raised a total of 46.79 billion reais ($8.44 billion) including future capital expenditure commitments, making it the largest auction of telecom assets to date in Latin America.

Telecom Italia, Telefonica and America Movil won most of the spectrum rights through their Brazilian subsidiaries in the final part of the auction on Friday, but local rival Algar Telecom also secured some.