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Business World News of Tuesday, 10 January 2017

Source: reuters.com

Brazil watchdog sees 5G wireless auctions only after 2020

Iphone 7 ;plus.jpeg File photo

Brazil will auction off rights to operate so-called fifth-generation mobile phone licenses only after 2020, when global regulators and carriers agree on main terms for the bandwidth and frequencies for the new technology, the president of industry watchdog Anatel said on Tuesday.

In an interview in Brasilia, Anatel President Juarez Quadros said the local carriers that want to migrate from the existing licensing model will have to invest an amount equal to the value of the so-called reversible fixed-line assets they hold. A law changing the licensing model is pending an analysis by Congress and the signature of President Michel Temer.