AOL.com Video - UK Economy Receives Bad Signal from 4G Auction

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UK Economy Receives Bad Signal from 4G Auction

Description:It's supposed to be taking Britain into the technology fast lane. But today 4G sold for a lot less than the government was hoping for. The auction raised just 2.3 billion pounds - well short of the three and a half billion target, and just a tenth of what 3G raised back in 2000. Telecoms regulator Ofcom held the auction. CEO Ed Richards insists making money wasn't the priority. (1:48)

Source: Reuters

Tags: reuters , Ed Richards , ofcom , Tom Elliot