Last week FCC Commissioner Ajit Pai posted a blog regarding the reallocation of C-band spectrum over the US. More news has now emerged.
FCC Commissioner Michael O’Rielly has said that “the FCC will have to make policy cuts on some spectrum issues and then live with the consequences”.
The comments have prompted analysts at investment bank Exane/BNPP to suggest that the FCC is gearing up for unilateral action. “We believe this suggests that the FCC is not planning on waiting for the US Congress to have passed C-band legislation (ie 5G Spectrum Act vs. C-Band Act) to move ahead on C-band.”
Another FCC Commissioner (Brendan Carr), speaking on a CES panel was unambiguous, saying: “We are committed to getting C-band across the finish line in 2020”.
The bank, in its note to clients, said: “Our valuations for [SES, Eutelsat and by implication Intelsat] assume a December 2020 auction with the bulk of C-band proceeds received in December 2023. We note that the time value of a one-month delay in the auction is around €0.03 per SES share. Our C-band valuation is unchanged.”