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LMT was the only bidder at the auction. The starting price of each frequency band had been set at EUR 250,000 and increment at EUR 25,000.

LMT Vice-President Gunars Danbergs told LETA that the company acquired the base frequency bands for which producers are already developing equipment for 5G network. "As soon as the technology for these frequency bands is ready, LMT will be one of the first operators to introduce it in its network, so that clients can use the cutting-edge communications technology and boost competitiveness in export markets," Danbergs said.

As reported, LMT was the only bidder at an auction held by the Public Utilities Commission on Monday to sell two frequency bands that can be used for 5G networks.

The Public Utilities Commission had put up for auction the following frequency bands: 3,400 MHz-3,450 MHz and 3,650 MHz-3,700 MHz, which fall into the 5G spectrum of 3,400 MHz-3,800 MHz. LMT applied to both frequency bands.

Representatives of the Public Utilities Commission said that one of the reasons for the low bidding activity was amendments adopted last year to the National Radio Frequencies Plan. The amendments, passed by the Cabinet of Ministers on September 27, 2016, restrict the participation of bidders that have already been allotted radio frequencies in the spectrum between 3,400 MHz and 3,800 MHz.

The council of the Public Utilities Commission, which has until December 11 to approve the result of the auction, plans to decide on the issue on December 7.