| "An 
				artificial shortage of public resources is being created, which 
				may push up the price," Hoettges told the company's annual 
				general meeting in Bonn, adding: "In the end, there is no money 
				for the build-out."
 German regulators have carved out a slab of frequency suited for 
				use in high-tech 'connected' factories, and will allocate that 
				on a regional basis directly to industrial companies later this 
				year.
 
 Four operators are, meanwhile, vying for a total of 420 MHz of 
				spectrum in the 2 GHz and 3.6 GHz bands in an auction that 
				started last week, with combined bids topping 1 billion euros 
				($1.1 billion) on Wednesday evening.
 
 Industry analysts expect the amount raised at the open-ended 
				auction - in which Vodafone, Telefonica Deutschland and new 
				entrant 1&1 Drillisch are also taking part - to reach 3 billion 
				euros or more.
 
 A court threw out challenges filed by the operators to halt the 
				auction. Litigation is still outstanding that could put the 
				auction's results to the test retroactively, the industry says.
 
 Hoettges repeated earlier complaints about delays to winning 
				local approvals to erect new telecoms masts in Germany, which 
				can take two years or more, and urged the authorities to lighten 
				regulation to encourage investment.
 
 He also called for more infrastructure sharing, in which 
				competitors can install antennas on the same towers, as a way to 
				ease the cost of building out 5G networks.
 
 "We build the mast, and others can use it to mount their 
				antennas. Particularly in rural areas, where coverage gaps are 
				still large," he said.
 
 (Reporting by Douglas Busvine; Editing by Mark Potter)
 
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