Eircom top UK licence bidder

Eircom ended yesterday as the highest bidder for one of Britain's five new-generation mobile licences, having offered to pay £105.2 million sterling (#174 million) for one of the smaller licences. When bidding opened in London on Monday, Eircom bid the reserve price of £125 million sterling, for a licence known as licence A. This licence has the largest capacity of the five on offer and is reserved for newcomers. One observer said bidding was still at a very early and tactical stage. The process is expected to take another five or six weeks.