Thailand has just completed its first 5G auction, as spectrum sales mount up in south east Asia. The auction raised a total of $3bn. The largest MNO, SingTel-owned AIS, was the biggest winner, buying 23 licences across all three bands on offer – 700 MHz, 2.6 GHz and 26 GHz. The second largest MNO, China Mobile-backed True, won 17 licences, while the third operator, Telenor’s DTAC, won just two. The two state-owned MNOs, CAT and TOT, which are soon to merge, gained six licences between them, two in 700 MHz. The auction raised 100bn baht ($3.21bn), with most value coming from the 700 MHz band, which is valued for its cost-efficiency in achieving broad coverage. This band attracted 51.5bn baht…