Australian 3G auction tops AU$1b

Australia's largest telco has pulled out in front in the third generation mobile telecommunications spectrum auctions, bringing the total bids to over AU$1.1 billion.

Australia's largest telco has pulled out in front in the third generation mobile telecommunications spectrum auctions, bringing the total bids to over AU$1.1 billion.

AUSTRALIA (ZDNet Australia) - At close of bidding yesterday, Vodafone Pacific led the six remaining contenders, with a total of $252,800,000 in bids.

However, by the 13th round today, Telstra 3G Spectrum Holdings has pushed to the front of the auctions, raising bids worth AU$286,927,500.00.

The total sum of the "high bids" after round 13 this morning was AU$1,166,493,500.

Vodafone is sitting on bids worthAU$252,800,000.00.

The bidders are competing for 58 spectrum lots on offer. As of close yesterday 39 lots had so far attracted bids.

The bidders include subsidiaries of Telstra, Hutchison Communications, Cable & Wireless Optus, and Vodafone.

The organisations are taking part in the electronic auction hosted on the Australian Communications Authority Web site.

The licences are for a 15-year term and will be auctioned in the 2GHz band and will allow mobile access to voice, data and multimedia-based services.