21Vianet Group (VNET) Announces Acquisition of 2.3 GHz BWA Spectrum in Hong Kong

21Vianet Group, Inc. (Nasdaq: VNET) today announced that it is a provisional successful bidder for radio spectrum in the 2.3 GHz band to provide broadband wireless access ("BWA") services in Hong Kong. 21Vianet is one of three provisional successful bidders, each of whom won one frequency band of 30 MHz. 21Vianet submitted a final bid of HK$150 million (US$19.3 million), which was the minimum bidding price set by the Hong Kong Telecommunications Authority for the spectrum.

The Hong Kong Telecommunications Authority will issue a 15-year unified telecommunications carrier license to successful bidders, allowing licensees to provide fixed, mobile or a combination of these services using the licensees' frequency bands. Provisional successful bidders will be required to pay spectrum utilization fees within 30 business days and submit a refundable performance bond of HK$150 million (US$19.3 million) as a guarantee of compliance with the network and service rollout requirements.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Morgan Stanley sees a buying opportunity in this data center stock
• MicroCloud Hologram acquires 140,268 MicroStrategy shares via structured note
• TMCR raises $165M to acquire additional Mesabi iron ore royalty