Mexico to raise US$2.5 billion in spectrum auction

Mexico's telecoms regulator on Thursday said it will raise about 45 billion pesos (US$2.5 billion) over the next 15 years after an auction of wireless spectrum.

The auction will allow the two participating companies, Carlos Slim's América Móvil and new rival AT&T Inc to deploy new mobile services and improve quality, the Federal Telecommunications Institute (IFT) said.

Final results of the auction, showing the size and amount of each company's winning bid, will be shared within 10 business days, IFT said in a statement.

The auction of 80MHz of spectrum in the 1710-1780 MHz and 2110-2180 MHz bands, ideal for offering mobile broadband services, started on Feb 15.

Since declaring América Móvil dominant in telecommunications in 2014, the IFT has been introducing stricter measures designed to boost access to a sector seen as less competitive than Mexico's peers. The firm operates around 70 percent of Mexico's mobile and fixed lines.