Has Frontline become a victim of the locked up credit markets? #
Posted Wednesday 9th January 2008 17:03 GMT
This is very sad news. But I do wonder if the problem is entirely caused by the fact that even the major banks are not in any position to lend to each other due to the ongoing problems within the credit markets. In that case, it will only be the major companies, (for example, Google), that have full access to their own finances that will be able to bid for the spectrum. That was why we have not entered the 700MHz auction ourselves. The FCC knew all along that their method of running the auction would inevitably discourage smaller companies from bidding. But with the lock up of the credit markets, the auction is an impossible target for all but a very few, very large businesses.


