STXNEWS LATAM-Brazil's Anatel approves terms of 4G auction; hearing starts May 2

jueves 10 de abril de 2014 17:07 GYT

Anatel, the Brazilian telecommunications industry watchdog, approved on Thursday a draft proposal for the auction a rights to run the 700 megahertz spectrum for fourth-generation (4G) data services, according to a statement.

The draft plan will be subject to hearings starting May 2 for a 30-day period, the statement said.

An auction for the service is scheduled for August. Phone carriers in Brazil are already struggling to sustain profitability in the face of a sluggish economy and heavy investments to roll out 4G coverage and build out pre-existing networks ahead of the soccer World Cup in June. The carriers, Telefonica Brasil SA, TIM Participações SA , America Movil SAB de CV and Grupo Oi SA paid a combined 2.56 billion reais in 2012 for an initial round of 4G permits. Yet the service will not be ready for the World Cup.