Greece has completed its auctions for new mobile spectrum, with all three of the country’s mobile operators securing licences and generating EUR380.5 million for the cash-strapped government.

The Greek regulator, EETT, has awarded airwaves in the 900MHz and 1800MHz bands to Cosmote, Vodafone and Wind under 15 year licences. Cosmote, the market leader, claimed to have been the highest bidder in both the 900MHz (2×2.5MHz) and 1800MHz bands (2×10 ΜΗz), investing EUR118.8 million in total.

"The allocation of said spectrum rights until the year 2027 is expected to promote the development of high-speed wireless broadband technologies, such as 4G and LTE, foster the growth of the market via the competitive provision of new services, and contribute to the bridging of the digital divide between urban and rural areas in Greece," said EETT chairman Leonidas Kanellos, reports AFP.

According to the report, the sale of the spectrum is part of a privatisation drive pledged by the Greek government in return from bailout loans from the European Union as it struggles amid an unprecedented debt crisis. The proceeds will be disbursed at a later date, an EETT spokeswoman said.