The USA has embarked on its latest 5G spectrum auction, Auction 108, which is the last currently tabled for this generation of mobile networks. However, it will not come with the fireworks, nor the large fees, commanded by previous auctions in the C-band or 600 MHz. This sale is of spectrum in 2.5 GHz, the band where T-Mobile USA already holds over 110 MHz in most markets courtesy of its merger with Sprint, and TMO is expected to be the only firm splashing significant amounts of cash, in order to consolidate its holdings in this band, even though there are 82 qualified bidders including the four national MNOs. There are 8,000 country-level licences available in the 2496 MHz–2690 MHz range,…