Like many 5G auctions round the world, the most recent UK spectrum sale has done nothing to shake up the market. New business models, such as enterprise-centric neutral hosts, are emerging, but almost always on the back of shared spectrum schemes. The UK regulator, Ofcom, for instance, is allowing dynamic sharing in MNOs’ licensed bands, where these are underused, and is proposing lightly licensed schemes for some millimeter wave bands, and very localized licences for enterprise networks. But these progressive ideas are not mirrored in auctions for mainstream 5G spectrum in mid- or low bands. Only the four existing MNOs bid in the UK’s recent auction of spectrum in 700 MHz, and in 3.6-3.8 GHz (though there are proposals to…