Standard Network Connection Limited has crashed out of the race for 3.5GHz spectrum, leaving Airtel Network Limited as the sole bidder in the auction conducted by the Nigerian Communications Commission (NCC).
With this, Airtel has now joined the duo of MTNN and Mafab Network that won the bid for initial 2 lots of 5G spectrum in December 2021
NCC while disclosing this, noted only the two expressed interest in the auction as at the close of business on Monday December 5, 2022.
The commission noted that only Airtel paid the Bid Deposit stipulated in the Information Memorandum (IM) while Standard Network sought a 12-day extension which was declined.
“However, only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable in view of the auction timetable”.
In view of this and having met all the provisions in the IM, Airtel has, therefore, emerged as the sole Bidder.
Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process.
It would be recalled that Airtel also competed with both MTN, and Mafab last year but failed in the auction of the initial two lots in the 3.5GHz spectrum, and all three commenced bidding from a reserve bid price of $194.7 million, fixed by NCC until they reached a winning bid price of $273.6 million.