The Hellenic Telecommunications and Post Commission (EETT) said it will bag €381 million from the auction of 800MHz and 2.6GHz spectrum, which was completed this week.

Cosmote, Vodafone and Wind Hellas each picked up 15-year licences, taking effect from February.

The regulator, according to Reuters, said that 30 per cent of the amount would be cashed in this year, while the state would get the rest of the amount in February (or in annual instalments over the next two years).

Comote, the country’s largest operator, paid nearly €135 million for its spectrum. Michael Tsamaz, CEO, said: “With Cosmote’s new investment in spectrum, we can further enhance the services we provide. We are advancing our networks, further improving the experience we offer, especially with regards to 4G.”

Wind Hellas shelled out around €122 million. “We will incorporate this new spectrum into our network modernisation and the current rollout of LTE services,” said Wind Hellas CEO Nassos Zarkalissaid. “This is a significant investment in critical spectrum that will allow us to meet the growing consumer demand for 4G mobile broadband and provide consumers [with] the fastest data service.”