Following the failure of another company to pay a deposit required to continue the auction, Airtel Africa (AAF. L) was the only bidder for a 5G high-speed spectrum license in Nigeria’s second round of licensing, the regulator announced.
MTN Nigeria (MTNN. LG) and Mafab Communications received the nation’s first 5G licenses from the Nigerian Communications Commission (NCC) in December of last year after each company paid $273.6 million.
Airtel was the sole bidder after Standard Network & Connections Limited, according to the NCC, failed to pay the necessary “intention to bid deposit.”
For the new 5G spectrum license with a 10-year term, the regulator has set a reserve price of $273.6 million.