Spectrum auction bids reach govt expectations - just

Total bids in the government's spectrum sell-off have topped $50 million - reaching the lower end of government expectations.

Total bids in the government's spectrum sell-off have topped $50 million - reaching the lower end of government expectations.

The figure presents a $6 million improvement on over a week ago when the government increased the number of daily rounds from two to four and the increment that bids must be increased by.

Prior to launching the auction in July, the government expected to net $50 million to $200 million from the sale, though some analysts expected far more.

A spokesman for IT minister Paul Swain says the sale will continue until there are two clear rounds with no further bids. However, this depends on the bidders and the government has no firm timetable as to when the sale might finish.

Details of the auction can be found at http://auction.med.govt.nz.

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