The US Federal Communications Commission is set to free several major operators from their commitments to pay up for spectrum licences. Several mobile companies in the US had bid a total USD 16 billion for the spectrum licences owned by bankrupt mobile company NextWave.
The FCC will reportedly propose that the carriers be allowed to opt out of the auction and thereby cut themselves free from the obligation to pay the government. The 63 spectrum licences were reclaimed by the FCC from the bankrupt NextWave in January 2001. The regulatory body then resold them at auction, receiving bids totalling some USD 16 billion for the various licences, including a sum of USD 8 billion bid by Vodafone’s joint venture with Verizon Communications, Verizon Wireless.