UPDATE: 1.8GHz auction reaches $341m

Bidding in Round 30 of the 1.8GHz spectrum auction closed yesterday afternoon at more than $341 million.

Competition for lots in Sydney and Melbourne continued to dominate the proceedings, which have now headed into the third week.

At the close of bidding yesterday afternoon, Primus Telecommunications, One.Tel and Hutchison continued to fight over the spectrum lots, which officials from the Australian Communications Authority expect will be used to provide mobile telephony services.

Total bids from Primus, One.Tel and Hutchison yesterday reached $141 million, $72 million and $99.5 million, respectively, while less prominent participants Cable & Wireless Optus, Telstra and Vodafone have so far spent $9.9 million, $918,000 and $2.9 million, respectively.

The auction continues today.