Telefonica, America Movil win mobile spectrum

Sunday, January 9, 2011

Costa Rica's telecoms regulator Sutel on Friday (Jan 7) awarded mobile phone licenses to Spain's Telefonica (NYSE: TEF) and Mexico's America Movil (NYSE: AMX), marking the official liberalization of what has been to date a state monopolized market.

Telefonica put its highest bid at US$95mn, over America Movil's US$77mn, according to reports.

Three licenses were up for sale. Sutel president George Miley previously told BNamericas that the third license could be re-auctioned.

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To date the market has been dominated by state telco ICE.