Proposed legislation will allow Spain's telecommunications operators to trade radio spectrum, opening the door for holders of mobile telephone licenses to sell some or all of their band, Science and Technology Minister Josep Pique said on Thursday
"Do not think of this in terms of a free market where radio spectrum is going to be bought and sold every day," Pique told a news conference.
"Simply, the legislation recognises that under certain circumstances this can take place in order to save specific commercial or scientific projects," he said.
The legislation, together with a bill covering the audiovisual sector and another on electronic signatures, would be submitted to Prime Minister Jose Maria Aznar's cabinet in February, Pique said.
It could be approved by parliament before its summer recess in August, Pique said.
The minister denied that the new legislation was aimed at allowing the smallest of Spain's four UMTS license holders, Xfera, to withdraw from the market.
The company, whose investors include French giant Vivendi Universal and Spanish builder FCC , was attempting to revive its operations after Spain relaxed the investment guarantees demanded under its 2000 contract, Pique said.
The launch of UMTS, also known as third-generation or 3G mobile telephony, has been delayed across Europe by setbacks in the production of handsets.
Meanwhile, the minister said he hoped to see telecommunications price caps removed from the Spanish market during 2005, by which time he said competition should be fully established.
The new law will also revise regulations governing the sanctions applied to companies that break its rules.
"The system of economic sanctions is going to be strict, probably stricter than what already exists," Pique said.
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