The Finnish Communications Regulatory Authority (FICORA) auction for the fastest high-speed mobile communication enabled 5G frequencies wrapped up with Telia Finland, Elisa and DNA winning the 3.5 gigahertz frequencies.
5G frequencies or networks are expected to bring about a technology revolution equivalent to the internet itself. They will allow for much faster data traffic than the current 4G networks allow, as internet connections could increase up to tenfold.
5G is key to the internet of things (IoT), that is the network of home appliances, physical devices, and other items embedded with electronics, software, sensors and connectivity. Fields to benefit in the future include healthcare, industry, and intelligent transport.
The historic auction brought the Finnish state 77.6 million euros.
The shares were divided between the largest Finnish operators: Telia paid 30.3 million for its own shares, Elisa 26.3 million, and DNA 21 million euros.
The government will grant the permits according to the results of the auction.