The three telecom bidders to ‘fight’ for the second mobile telephony license in Cyprus are Cosmote Telecommunications (Cyprus) Ltd, Scancom (Cyprus) Ltd and Atlantic Crest Investment Ltd. The Telecommunications and Post Office Regulation Commissioner, Vasos Pyrgos, and the Manager of the Electronic Telecommunications Department of the Transport Ministry, Stelios Chimonas have opened today the relevant applications made by the bidders, following the expiry of the deadline at 10.00 am.

The government is now expected to evaluate the applications and select the applicants that fulfill the criteria for the auction to take place in late October 2003.

According to sources, the initial sum of auction amounts to CYP 5.7 million, while the warrantee to be paid by the participants stands at CYP 1.1 million. The bidders will lose the warrantee if they they fail to bid at least once during the auction.