The government of Cyprus has successfully tendered four licenses for 5G spectrum rights. This marks the beginning of the 5G era in Cyprus.
Larnaca, Cyprus: 17 December 2020
The Government of Cyprus approved four offers in the 700 MHz and 3.6 GHz bands at a total price of € 41.6 mln. Four eligible bidders won 5G rights at auction:
Cyprus Telecommunications Authority (CYTA)
epic
Cablenet Communication Systems
Primetel
The Deputy Minister of Cyprus, Kyriakos Kokkinos, stated:
This development is a milestone in the course of Cyprus towards a holistic digital and green transition. Cyprus is now officially entering the 5G trajectory, a trajectory of evolution, growth and progress. 5G is a key pillar of a digital ecosystem of technical and business innovation, sustainable economic growth and social prosperity.
The first 5G networks are expected to start operating in the first quarter of 2021. The authorised providers are committed to develop and operate the 5G networks covering 70% of Cyprus population, as well as all highways, by the end of 2025.
It is noted that the fifth generation of mobile telephony is expected to dynamically strengthen the economy by making possible new mobile and internet possibilities to companies and citizens.
Navigator Consulting Group provides Investment Advisory and Strategic Management services for companies in Cyprus.
Philip Ammerman
Managing Director
Sources:
Stockwatch. 17 December 2020
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