Brazil could collect up to 3 billion reais via 5G auction, says regulatory official

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FILE PHOTO: 3d printed objects representing 5G are put on a motherboard in this picture illustration

SAO PAULO – Brazil’s treasury could raise up to 3 billion reais ($538.60 million) through its 5G auction next week if all available frequencies are sold, Abraão Balbino, chief of telecoms regulator Anatel, said on Wednesday.

Fifteen companies and groups presented the required documentation on Wednesday to register for the auction, set for Nov. 4, including Vivo, Claro and Tim.

($1 = 5.5700 reais)

(Reporting by Alberto Alerigi Jr.; writing by Stephen Eisenhammer; Editing by Leslie Adler)