COLOGNE, Germany (Reuters) - Deutsche Telekom (DTEGn.DE) expects the results of an auction of wireless airwaves in the United States in the second half of the year, its chief executive told shareholders on Wednesday.
The auction, which is aimed at repurposing low-frequency spectrum relinquished by television broadcasters to wireless companies and other bidders seeking new airwaves to build and improve wireless networks, started end-March.
“We expect the results in the second half of the year,” Deutsche Telekom’s Chief Executive Tim Hoettges told the company’s annual shareholders’ meeting in Cologne.
Deutsche Telekom owns 65 percent of T-Mobile US (TMUS.O), the country’s third-largest wireless operator.
The auction is considered one of the most complex and ambitious spectrum auctions to date.
Analysts have previously forecast that the auction could fetch proceeds in the $15 billion to $45 billion range.
Reporting by Harro ten Wolde