End-of-line spectrum 50% off: UK second 5G auction results

Contents

Ofcom’s second 5G auction concluded with proceeds half those of historic levels for a number of reasons

The outcome is positive for all operators with no major surprises. The results imply a much more level playing field for the UK mobile operators than in the past

A relief for the operators but proceeds for the exchequer will be disappointing, and ALF renegotiation may reduce their revenue steam further

List of charts/tables

Figure 1: Cost of spectrum at actual price paid, reserve price, and historic market prices (£m)

Figure 2: Spectrum holding by operator (MHz)

Figure 3: Spectrum acquired and prices paid by operators in 700MHz band

Figure 4: Spectrum acquired and prices paid by operators in 3.6-3.8GHz band

Figure 5: Reserve price, historic prices, and actual amount paid

Figure 6: Operator shares of spectrum and capacity post-auction

Figure 7: Operator shares of capacity

Figure 8: UK MNO market shares, 2019 (spectrum shares post-2021 auction)