Business
Posted: 10 months ago

Cellfie Acquires 5G Network License in Recent Auction

The highly anticipated 5G network auctions have commenced. In the first auction, four combined lots were made available.

"Cellfie Mobile" secured the second package. Originally priced at 2,530,900 GEL, the license fetched a premium and was finally acquired for 2.6 million GEL. A total of 24 lots are up for grabs in the auctions dedicated to the rollout of the fifth-generation Internet.

In a surprising twist, telecommunications giants "Magticom" and "Silknet," which currently dominate with 70% market share, have opted out of the 5G auctions. According to sources, the Communications Commission's mandate to incorporate virtual operators into the network was a sticking point for these major players, leading to their decision to abstain from the bidding process.