With a $32.2-million bid, Verizon Wireless was the winner of a bankruptcy auction Monday for some of the assets of failed Oklahoma City-based Stelera Wireless.
Verizon and rival bidder AT&T vied for 18 Federal Communications Commission licenses for 3G and 4G wireless spectrum rights in Colorado, New Mexico, Kansas and Texas.
Bidding started at $19 million for the licenses, with AT&T and Verizon tossing out 69 competing bids over the course of the roughly two-hour auction Monday morning at an Oklahoma City law office.
During one particularly heated 28-minute portion of the auction, AT&T and Verizon bid against each other 52 times at $200,000 intervals, said Oklahoma City attorney Clay Christensen, who represents the debtor Stelera and also served as auctioneer.
“Nobody envisioned the numbers getting this high,” Christensen said.
Oklahoma City-based Stelera was founded in 2006 by former Dobson Communications Corp. President Ed Evans.
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Nobody envisioned the numbers getting this high.”
Oklahoma City attorney