Spain's auction of mobile telecoms radio frequencies hosted 1.65 billion Euros, gliding way over the minimum 1.453 billion euro price laid down by the government.

Spain's leading mobile operators, including Vodafone, Telefonica, and France Telecom's Orange tear precious additional radio frequencies, which was essential in order to help them meet the increasing demand for data use on smartphones and tablets.

Eleven telecom operators were interested and bagged the rights to call their shots in the auction, essential in distributing the sufficient amount of mobile frequencies to help operators meet the demands of prospective users for data usage on tablets and smartphones.

The government had apparently laid down 1.62 billion Euros as the lower cut-off price it would admit as per the documents delivered to telecoms operators in March.

Earlier on Thursday, the Spanish telecoms behemoth, Telefonica SA (TEF) announced a 27% slump in net profit for second quarter as it persisted with its sufferings from plummeting revenues in disaster-hit Spain and increasing functioning costs along with a collapse of its stake in Telecom Italia SPA (TI).

The Madrid-headquartered Telefonica, which is Europe's second-biggest telecommunications company in terms of market value after UK-headquartered Vodafone Group PLC, has said that the net profit has tripped-down to EUR1.54 billion over EUR2.12 billion during the same quarter in 2010, tormenting analysts' predictions.

Meanwhile, few unshackled hopes are still remaining, as the ongoing merger of Telefonica's mobile and fixed-line units in Brazil is likely revitalize the synergies of EUR3.7 billion-EUR4.6 billion, "significantly higher" than earlier anticipations, said Cesar Alierta, Telefonica's Chairman.