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November 14th 2011

The Hellenic Telecommunications and Post Commission (EETT) successfully completed today the spectrum auction process for mobile communication services in the 900MHz and 1800MHz bands by raising a total sum of 380,535,000 euros. In fact, all available blocks in the 900MHz and 1800MHz bands were granted to the country's three mobile operators, COSMOTE, VODAFONE-PANAFON and WIND for a period of 15 years, through an open and transparent procedure. Such procedure was the first to have been conducted in accordance with the revised European Framework on electronic communications.

The EETT President, Dr. Leonidas Kanellos, stated that "despite the financial crisis, the independent Regulatory Authority succeeded in raising 380.5 million euros, which is a much higher price than the initial estimates of the Greek government. The two-stage tender process, as designed and implemented by EETT, guarantees equal treatment of existing operators and potential new entrants, triggers new investment opportunities, while maximizing pluralism and consumer benefits. 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."

About the Hellenic Telecommunications & Post Commission (EETT)
Established in 1992, the Hellenic Telecommunications & Post Commission (EETT), is an independent Authority, which regulates, supervises and monitors the electronic communications' and the postal services markets in Greece. Also acting as competition authority in the regulated sectors, the Hellenic regulator is committed to ensure a competitive framework in the market to the benefit of the users. EETT is an independent self-funded decision-making body.

For more information, please contact Ioanna Alexopoulou, Head of the Public Relations Dept., by phone at +30 210 615 1250 or by e-mail at i.alexopoulou@eett.gr.