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FRANKFURT, June 13 (Reuters) – Shares in 1&1 Drillisch surged on Thursday after it won spectrum in Germany’s 5G mobile auction that ensured its position as a new fourth operator in a market that has lagged globally.
Germany raised 6.55 billion euros from its 5G mobile spectrum auction, the Federal Network Regulator (BNetzA) said on Wednesday, concluding a near three-month bidding war.
Shares in 1&1 Drillisch, until now a ‘virtual’ mobile player, rose 9.4% at 0754 GMT. United Internet, which controls 1&1, surged 5%.
1&1 paid 1.07 billion euros for 70 MHz, bringing billionaire CEO Ralf Dommermuth closer to his dream of running Germany’s fourth operator.
Reporting by Tom Sims
Editing by Thomas Seythal
Our Standards: The Thomson Reuters Trust Principles.
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