Scancom has six months to operate GSM services in Cyprus
31/10/2003 10:12
Lebanese-backed Scancom (Cyprus) Ltd was the winner of the second GSM license in Cyprus at an auction in Nicosia that ended Thursday. Scancom will have to become active on the island within six months.
The company secured the license against £12.75 million after two days and 12 rounds of bids and ending up at the 12th round unopposed since Greek state run mobile operator Cosmote Telecommunications backed out at the 11th round.
The license will be valid for 20 years and will come into effect from the day it is officially issued.
Publicly owned Cyprus Telecommunications Authority will have to purchase the first GSM license at the same price.
The company secured the license against £12.75 million after two days and 12 rounds of bids and ending up at the 12th round unopposed since Greek state run mobile operator Cosmote Telecommunications backed out at the 11th round.
The license will be valid for 20 years and will come into effect from the day it is officially issued.
Publicly owned Cyprus Telecommunications Authority will have to purchase the first GSM license at the same price.
3287.99
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