The UK’s approach to spectrum auctions has, in common with those of many other countries, attracted criticism for various reasons, including government greed for maximum revenues (especially in the case of early 3G auction). But the decision by regulator Ofcom not to enforce defragmentation in the mid-band seems to have worked, as Telefónica’s O2 and Vodafone, the country’s second and third largest MNOs by subscriptions, traded allocated spectrum to create more efficient blocks. This follows the conclusion of the UK’s auction of low- and mid-band spectrum in March 2017, raising £1.356bn ($1.892bn) in a process that again draw criticism for leading to the fragmentation. Ofcom had divided the sale of spectrum in the 3.4 GHz to 3.8 GHz band into two…