The latest US spectrum auction has ended, generating just $428m in proceeds. This was unsurprising, as the sale related to localized licences in the 2.5 GHz band which were only attractive to one major operator, T-Mobile USA (which owns the bulk of the country’s 2.5 GHz spectrum). Indeed, TMO won over 90% of the licences, paying $304m, and though Verizon acquired a smattering of concessions, many analysts believed this was a mistake. Auction 108 sold 8,017 county-sized licences in the 2.5 GHz Educational Broadband Services (EBS) band, which has been repurposed for cellular communications, from its original allocation to schools and churches. There were 73 rounds of bidding, with 82 organizations qualified to take part, including AT&T, Verizon and Dish.…