The President of the German Federal Network Agency, Jochen Homann, said that the high bids for 5G frequencies in the auction will not have an impact on construction of the network. Homann said that the operators knew the conditions of the 5G auctions and positioned themselves accordingly.
The four network operators Deutsche Telekom, Vodafone, Telefonica and 1&1 have offered nearly EUR 5.9 billion for the frequencies in the auction so far. At the beginning of the process, experts calculated bids would be between EUR 3 billion and EUR 5 billion.
The CEO of Deutsche Telekom, Tim Hottges, said that the money paid for the frequencies are taken away from potential investments in the expansion of the network, the report added. The auction has lasted for nine weeks and it is not certain when it will end, said Homann.