The other two competitions - Essex Thameside and the combined Thameslink, Southern and Great Northern franchise - will resume their bidding processes, with revised invitations to tender being issued to the existing short-listed bidders in the summer.
The first spectrum auctions generally assigned the chosen number of licences of predetermined size to the highest bidders, but auctions now allow a greater choice of outcomes, with bidders with existing spectrum portfolios competing, with others, for multiple lots, often in different bands.
The only bidder was the existing franchise-holder.
Under the agreement, Lihir will be able to continue existing discussions with other, unidentified potential bidders — currently at "various stages," according to the company — until June 8.
In effect, they, like the managers of any business, would prefer the existing talent to be available to fewer bidders who would have substantial incentive to bid less.To which the players offer three compelling rejoinders.
Genii, the Luxembourg bidder, has a number of existing holdings in the auto industry.
Of interest to potential bidders is that "the incoming concessionaire shall retain existing employees by seniority within each job classification," the proposal says.
Other bidders are not likely to emerge given Roche's existing majority stake.
It would come as a surprise to many Americans that the perimeter of embassies are largely "protected" by local civilian security company guards -- many of whom are unarmed and awarded the contract -- by existing law -- not on their capabilities, but on lowest bidder (that may be one fix in impending legislation).
Bidders were required to take over the lease under the existing terms, said James Avallone, a senior manager with DJM Realty, which handled the auction on behalf of Borders.
