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Italian finance minister over-estimates 3G revenue

By Suzanna Kerridge

Published: 12 July 2000 13:01 BST

The Italian government could earn only ITL30tr (£9.8bn) from the sale of third generation (3G) UMTS licences - ITL20tr (£6.5bn) less than originally predicted.

Last week Italian finance minister Ottaviano Del Turco claimed the government could collect as much as ITL50tr (£16.3bn).

But the chairman of economic research institute ISAE, Fiorella Padoa Schioppa Kostoris, told the upper house of the senate that the auctioning of the five licences could raise "in the order of tens of trillions into state coffers".

The terms of the distribution of licences are due to be published next month. However, industry observers expect the auction to take place in two stages with the winners announced on 15 November.

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