Thailand’s 900-MHz spectrum auction ended on Saturday after 198 bidding rounds, raising 151.95 billion baht (€3.89 billion).

True Corp, which was bidding through True Move H Universal Communication, and Jasmine International’s Jas Mobile Broadband walked away with the two available licences, the National Broadcasting and Telecommunications Commission (NBTC) announced on Monday.

True Corp spent slightly more than Jasmine, winning the 905-915 MHz/950-960 MHz lot for THB76.3 billion, while Jasmine committed THB75.65 billion for the 895-905 MHz/940-950 MHz block.

AIS and DTAC also took part in the auction, but were unsuccessful.

The same four bidders contested Thailand’s 1800-MHz spectrum sale in November. That auction raised 80.78 billion baht (€2.1 billion), with AIS and True Corp winning the frequencies.

Thus, Telenor-owned DTAC is the only participant to come away with nothing.

NBTC secretary general Tanthasit Thakon said the regulator will now hold a meeting to ratify the results of the auction and will make an official announcement within seven days.

The regulator said the terms of the licence include various conditions designed to help consumers. Licensees must roll out 4G services to more than 50% of the population within four years and 80% within eight years. And 4G operators are required to offer lower tariffs than are currently available for 3G services in the 2.1-GHz band, as well as providing cheap packages for disabled and low-income customers.

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