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4G auction misses target

Telecoms regulator Ofcom said its auction of 4G airwaves raised £2.3 billion, with the winning bidders named as O2 parent Telefonica, Hutchison 3G, Vodafone, EE and a subsidiary of BT. The Government had hoped to raise £3.5 billion.

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Sale of 4G airwaves falls short of government target

Telecoms regulator Ofcom said its auction of 4G airwaves raised £2.3 billion, well below the government’s £3.5 billion target.

The Chancellor George Osborne had mentioned the projected income as part of his claim in the Autumn Statement that borrowing could be reduced.

ITV News Consumer Editor Chris Choi reports:

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