Spectrum
We support operators and regulators in managing, buying or selling spectrum, a key telecoms resource.
We help operators to understand their spectrum needs, value spectrum and bid in auctions. We have assisted bidders in over 90 spectrum awards worldwide, and we have advised on spectrum transactions worth over EUR10 billion.
We also assist regulators to shape spectrum policy, including designing spectrum awards and setting spectrum fees. Our understanding of the technical, market and economic aspects related to spectrum means that we are uniquely placed to help regulators formulate spectrum policy.
Our spectrum services
Spectrum strategy
We help our clients to understand their spectrum requirements and develop strategies to make optimal use of this valuable asset.
Spectrum valuation
Using our unique approach – refined over many projects – we accurately value spectrum for both our clients and their competitors ahead of spectrum awards and transactions.
Auction bid strategy
We ensure that our clients are fully prepared for spectrum auctions – including a robust bid strategy, rigorous auction tools and appropriate ‘war-room’ processes.
Spectrum policy
By assessing technological developments and demand from various uses, we help regulators to formulate policies to maximise the economic use of spectrum.
Award design
We support regulators to design auctions and other spectrum award/renewal processes to achieve efficient outcomes.
Spectrum pricing
We support regulators to set annual fees and auction reserve prices at optimal levels to incentivise efficient use of this scarce resource.
Spectrum fee benchmarking
We maintain an extensive database of global auction prices, renewal prices and annual fees, which we use to benchmark spectrum value.
Our project experience
Review of annual spectrum fees
We undertook a review of annual fees for broadcast, fixed and fixed satellite spectrum on behalf of the Malaysian regulator, MCMC.
The project included international benchmarking of fees for each service in over 20 countries, including the approaches used for setting spectrum fees for each service, as well as the actual levels of fees applied.
Based on the results of our assessment, we recommended changes to the existing fees formula and associated parameters used for setting spectrum fees in Malaysia. These were subsequently considered by MCMC.
End-to-end 5G auction support
We provided ‘end-to-end’ support to a mobile operator in the Asia-Pacific region in preparation for an auction of 3.6GHz spectrum.
Our support included the development of a 5G network strategy, detailed spectrum valuations (for both our client and its competitors), and a bid strategy. To develop and rigorously test the bid strategy, we conducted Monte Carlo simulations of the auction and ran numerous mock auctions. Finally, we provided round-by-round bid support during the auction.
In the auction, our client won the maximum spectrum permitted by the caps in 12 out of the 14 regions.
5G spectrum valuation & auction preparation
We supported a Western European mobile operator to prepare for a 5G multiband spectrum auction, providing consultation support, developing a 5G spectrum strategy, developing robust spectrum valuations and participating in the war room team.
In the consultation phase, we secured key changes to the auction rules, especially with respect to the spectrum caps. These ensured that our client would win minimum quantities of spectrum in the crucial 700MHz and 3.6GHz bands. The valuation model considered the EMF restrictions in detail as they are particularly restrictive in this country.
The insights from both the spectrum strategy and valuation exercises helped our client to secure its target package at a low price.
5-year spectrum roadmap for regulator
We helped the IMDA to develop a spectrum roadmap for all radiocommunications services over a 5-year period, identifying short-, mid- and long-term spectrum management priorities. Our work was supported by detailed demand analysis for key services, including satellite, Wi-Fi and IMT, as well as international benchmarking and engagement with a wide range of stakeholders.
We analysed the case for alternative spectrum uses in detail, with our recommendations being informed by thorough cost-benefit analysis. We also considered the case for implementing innovative sharing approaches.
The outcomes of the study included recommendations on the future use of several key spectrum bands, including 6GHz, as well as on future spectrum pricing.
5G spectrum & network strategy
We supported a European operator with the development of its 5G strategy, including its spectrum strategy, planned network roll-out for both mobile and fixed wireless access, pricing, take-up and financial impacts.
We investigated potential threats and opportunities from 5G, such as potential loss of market share, reduced costs of existing services and enhanced FWA services. In addition, we developed a financial model to help quantify the potential impacts on our client’s key KPIs.
Our client successfully launched commercial 5G services in November 2019.
Relevant articles & reports
India’s spectrum auctions: limited supply or limitless prices?
28 February 2025
India’s Union Cabinet has recently approved the refarming of 687MHz of spectrum from various government ministries for the deployment of 5G and future 6G services. It estimates […]
Auction vs Extension: which path is best for expiring licences?
20 February 2025
Spectrum licences awarded in the past two decades are now expiring in many countries and with this many regulators face an important decision: should licences be extended […]
No cash, no problem: can cashless spectrum auctions work?
17 February 2025
Cashless spectrum auctions are a proposed novel award model where bidders do not pay cash for spectrum licences, but instead commit to coverage or infrastructure rollout obligations. […]
