The State is set to raise over €850 million from the sale of part of the radio spectrum.

The telecoms regulator ComReg says the sale of unused parts of the spectrum along with the old analogue signal will net the Exchequer €450 million this year.

Another €400 million is also to be paid over the next few years.

The auction offers the rights of use across the 3 bands for the period of 2013 to 2030.

ComReg says the bands "are suitable for advanced mobile services due to their propagation properties which allow for high-quality communication services".

This means they will allow mobile phone companies to provide a much faster internet service.

Mobile phone companies are paying the money to allow them develop next generation high-speed mobile broadband.

Hutchinson 3G Ireland, Meteor Mobile Communications, Telefonica Ireland and Vodafone Ireland have all emerged as winning bidders in the process.

Long-term planning 

Announcing the results of the auction ComReg Chairperson Alex Chisholm said "The assignment of these spectrum rights by ComReg has been one of the most significant  pieces of work undertaken by ComReg". 

"It is a vital step that promotes competition and  allows the next generation of advanced mobile services to be made available to Irish consumers and businesses from next year".

"The duration of the licences (until 2030) will provide certainty and allow  mobile network operators to plan investment and  development of  networks on a long-term basis" he added.

The Communications Minister Pat Rabbitte has told 98fm that it is a vote of confidence in the Irish economy.

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