Spain is now all set to start the wireless-spectrum auction today that aims at raising 2 billion Euros so that the government can further cope up with euro area’s largest budget deficit which Spain is confronting by now, which has apparently spurred the government to cut spending. It is for the first time that the Spain is going to begin with such an auction of mobile telecom licenses that will consider internet contest and possibly will generate more than 1.45 billion Euros to deal with largest budget deficit.

With eleven telecom operators who had applied for the auction, have been approved to finally participate in the auction, which is vital and will further pave the solution to the largest budget deficit that confronts Spain.

Telefonica SA (TEF), Vodafone Group Plc (VOD) and France Telecom SA (FTE) are among 11 operators to have got approval to participate in the auction and are now all set to bid for 58 blocks in the 800-MHz, 900-MHz and
2.6-gigahertz frequency bands.

A spokeswoman for the Industry Ministry has stated that the final results of the auction may take 10 to 15 days to be known. She has also said that day to day result of the auction will be posted on the website of the Madrid-based ministry, which will also indicate the price of each block auctioned for the day, without providing any information about the operator who may have bought the license.