Spectrum

We support operators and regulators in managing, buying or selling spectrum, a key telecoms resource.
We help operators to understand their spectrum needs, value spectrum and bid in auctions. We have assisted bidders in over 90 spectrum awards worldwide, and we have advised on spectrum transactions worth over EUR10 billion.
We also assist regulators to shape spectrum policy, including designing spectrum awards and setting spectrum fees. Our understanding of the technical, market and economic aspects related to spectrum means that we are uniquely placed to help regulators formulate spectrum policy.
Our spectrum services
Spectrum strategy
We help our clients to understand their spectrum requirements and develop strategies to make optimal use of this valuable asset.
Spectrum valuation
Using our unique approach – refined over many projects – we accurately value spectrum for both our clients and their competitors ahead of spectrum awards and transactions.
Auction bid strategy
We ensure that our clients are fully prepared for spectrum auctions – including a robust bid strategy, rigorous auction tools and appropriate ‘war-room’ processes.
Spectrum policy
By assessing technological developments and demand from various uses, we help regulators to formulate policies to maximise the economic use of spectrum.
Award design
We support regulators to design auctions and other spectrum award/renewal processes to achieve efficient outcomes.
Spectrum pricing
We support regulators to set annual fees and auction reserve prices at optimal levels to incentivise efficient use of this scarce resource.
Spectrum fee benchmarking
We maintain an extensive database of global auction prices, renewal prices and annual fees, which we use to benchmark spectrum value.
Our project experience
Romania 2015
C-band package clock auction
Aetha supported Orange Romania in an auction for 3.5GHz and 3.7GHz spectrum including consultation support, spectrum valuation and bid strategy.
Belgium 2022
Multi-band SMRA
Aetha provided end-to-end auction support ahead of a multi-band spectrum auction, including consultation support, valuation and bid strategy development.
Australia 2023
C-band SMRA
Aetha provided valuation and bid strategy support ahead of an auction of 3.4-3.8GHz spectrum including developing a detailed valuation model and providing in-auction support.
Full review of spectrum pricing
Aetha completed international benchmarking of spectrum pricing for all radiocommunications services and proposed a new spectrum price schedule for Malaysia.
Relevant articles and reports
The growing strain on spectrum: What the World Cup shows us about spectrum sharing
16 July 2026
The television coverage of this year’s Men’s Football World Cup has been on a new level. ‘RefCam’, AI-generated player avatars for offside replays and sensor-equipped match balls […]
Four learnings from the US AWS-3 auction
02 July 2026
Four learnings from the US AWS-3 auction
The FCC’s Auction 113 for AWS-3 spectrum concluded on 23 June after 72 rounds of bidding. All 200 licences across the […]
The backward-looking bias in spectrum price benchmarking
30/04/2026
The backward-looking bias in spectrum price benchmarking
Many regulators and operators use spectrum price benchmarking to estimate current market value. This can be a useful tool for regulators when setting […]
AI and the New Uplink Challenge: How Mobile Traffic Patterns Are Shifting
27 March 2026
AI and the New Uplink Challenge: How Mobile Traffic Patterns Are Shifting
As AI‑based applications move into mainstream use, their influence on mobile network traffic is becoming clearer. […]







