Federal Communications Commission is going to accelerate the bidding process (phase 2) in its 700 MHz wireless spectrum auction, hoping to accomplish the race in days.
Among the participants of the auction are several telecommunications companies, including Verizon Wireless, AT&T, and startup Frontline Wireless, as well as the internet giant Google.
All the bidders are particularly interested in Block C (710-716 and 740-746 MHz; the largest block) licenses initially totaling approximately $4.6 billion. Verizon placed the most recent bid of $4.74 billion, beating the previous bid of $4.71 billion placed by Google.
Block D of the spectrum will be used for a national public safety network. The public safety network will be on a total of 20 megahertz (763-775 and 793-805 MHz). The highest bid for it got stuck for days at $472 million, well below the $1.3 billion reserve set by the FCC.
Total bidding for all licenses (5 blocks) was $18.9 billion on Wednesday.
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds