Brazil has now completed its postponed 5G spectrum auction, raising 47.2bn reais ($8.5bn) but falling short of government revenue targets. This was partly because some lots in millimeter wave bands were left unsold amid operator uncertainty about the country’s business model for mmWave frequencies. The auction spanned all three 5G band groups, covering 700 MHz in the low band, 2.3 GHZ and 3.5 GHz in the midband, and 26 GHz in the mmWave high band. The licences came with investment commitments for roll-out. The auction was successful in diversifying the country’s mobile operator base and also setting a clear roadmap for providing high speed broadband over 5G to progressively smaller cities and towns over the next seven years. Indeed, a…