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After three months of bidding, the Federal Communications Commission’s sale of wireless licenses has fetched more than $69.8 billion. By comparison, in 2015 by an earlier sale of midrange cellular licenses hit $44.9 billion.

These cellular companies are now investing billions of dollars in the next wave of fifth-generation coverage, which should speed the flow of data to phones and other wireless devices. NAI Global Wireless says the bids “have blown past Wall Street’s highest forecasts, suggesting that several companies are fighting over the most valuable wireless rights.”

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