After the auction of the 2.3 GHz Spectrum by the Nigeria Communications Commission (NCC), Bitflux Communications beat Globacom with a bid of $23,251,000.
The NCC had earlier in a public notice, announced Globacom Limited and Bitflux Communications Limited as the approved bidders for the 2.3GHz frequency spectrum. The Auction had earlier been set at $23 million (about N3.6 billion). Though the auction was billed to last for two days, it was concluded in less than an hour.
During the first round of the auction, the bidders rejected the price which was fixed at $23 million plus 15%. They refused to bid, and because of the type of software used in the auctioning, which employs the Ascending Clock auction system recorded it as a tie for them. Meaning that they will have to go to a second round, during the second round bidding, the winner emerged with Bitflux offering $23,251,000 as against Globacom’s $23,051,000.
Bitflux has 14 working days to pay up the winning bid and 30 days to pay the operating license of N155 million.
Bitflux Communications Limited is a consortium made up of VDT Communications Limited, Bitcom Systems Limited and Superflux International Limited.
