Well played, Google
Google has withdrawn from the bid for the 700 MHz C-block in the FCC wireless auction, likely forfeiting the winnings to Verizon or AT&T.
Last year Google sparked talk by committing to bid $4.6 billion for open spectrum. It also recommended that the winner open its network, services, devices and apps to the broader market.
Since then, the telecom industry was mandated to build an open wireless network, thereby boosting competition — all without Google having to spend a dime, reports Business Week.
The auction raised a record $19.4 billion. Bidding is anonymous, but industry speculators say it is unlikely to produce a new wireless provider.
Next up for bid is the D-block, which may be difficult to sell. The FCC stipulates the winning bidder of D-block must provide services for public safety agencies.