Biggest-ever auction of 5G mmWave spectrum ends at $7.6B

The biggest auction of millimeter wave (mmWave) spectrum licenses in modern history ended with total bids of $7.6 billion. The FCC said it will release the identity of the winning bidders in the coming days, but analysts believe T-Mobile likely will walk away with the bulk of the licenses. "We expect T-Mobile will emerge as the top bidder," wrote the analysts at Wall Street research firm Raymond James in a note to investors in January following the close of the "clock" phase of the auction, dubbed Auction 103. After the "clock" phase ended, the auction moved into an "assignment" phase where bidders chose the specific licenses they want. That phase – which just ended Friday – didn't involve any large bids.