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Lack of interest in cellphone auction costs Costa Rica $400 million

Friday, December 17, 2010

The lack of interest shown by telecommunications companies in the end of the state’s cellphone monopoly will deal a blow to the nation’s finances.

By the end of the 15 years that will last for the concession of the frequencies, the government will have lost $400 million due to only two companies having placed bids.

The losses are due to the absence of any bids for the third frequency.

Original source (in Spanish): La República