Friday, August 18, 2006

Score keeping on that other auction

After 24 rounds of bidding, DEUTSCHE TELEKOM AG's T-Mobile USA provisionally had the highest bids for 130 licenses, offering $3.7 billion. Verizon Wireless was in second place, with provisionally winning bids of $2.8 billion for four licenses. Also still in the hunt was a consortium of cable companies COMCAST CORP. and TIME WARNER INC. and No. 3 U.S. wireless provider SPRINT NEXTEL CORP. That group was in third place and had provisionally winning bids for 93 licenses with bids of almost $1.5 billion. (Reuters)

Our auction exit looks really small when it's expressed in billions (0.012 billion) but it's still 1.2 billion pennies (anybody know if that many pennies circulate?) If you tried to fill a widebody with that many pennies it won't get off the ground (my guess, but maybe someone could give us an estimate weight on this)

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