Ofcom 4G auction set to be investigated by National Audit Office over £1.2bn shortfall
The 4G auction run by Ofcom earlier this year that raised $2.3bn, is expected to be investigated having come in around £1.2bn short of what the treasury had forecast it would raise.
The auction saw Everything Everywhere, Hutchison 3G UK, BT subsidiary Niche Spectrum Ventures, Telefónica UK Ltd and Vodafone all pick up elements of the 4G spectrum that was available at the time, was expected to generate at least £3.5bn, as forecast.
However, The Guardian claims to have seen a letter from the National Audit Office auditor general Amyas Morse to Labour’s shadow minister for media Helen Goodman that states that a ‘value for money’ investigation is Morse’s intention.
Goodman has already complained about the shortfall in the final sums raised.
In April 2000, the auction for 3G spectrum raised £22.5bn.