Telecom New Zealand has won the bid to secure the last remaining block of 2×5 MHz lot of radio frequencies of 700 MHz , which was left unsold at auction last year.

Telecom bid £ 83 million for the final lot , in addition to the total of 66 million for three lots in the initial stage of the auction. Purchase a fourth batch 2×5 MHz is subject to approval by the Commerce Commission .

In the first round of the auction in October last year , Telecom and Vodafone offer every success 2×15 MHz ( three groups ) , while 2degrees successfully bid for 2×10 MHz ( two groups ) , leaving a single batch 2×5 MHz of available unsold new lots .

Bidding for this lot was held last week at $ 1 million for each interval bidding increments starting at $ 22 million reserve price .

Telecom said that the first significant price above the reserve price reflects what it said customer benefits that this group will provide additional fourth mobile telecom network in the coming years .

A final assignment process , each bidder will bid for a place in the band , is yet to take place.