According to daily DGP, Emitel (recently disposed of by TPSA to Montagu) is close to reaching a decision about participating in the 1800MHz tender. If the firm is successful at the tender it will become an LTE wholesale seller. Our view: If the firm finally decides to participate at the tender it could be negative for the other participants (i.e. Play, Orange, T-Mobile): stronger competition could push up the final price for the 1800MHz frequency and lead to smaller blocks being sold to each party. The entry of a newcomer to the tender would mean that the spectrum blocks offered at this year’s auction would be irreversibly diffused between the newcomer, P4, PTK and PTC: this in turn would mean that none of the latter MNOs would be able to provide an LTE broadband service to compete with that of Midas until the release of the 800MHz frequency. The deadline for submission of bids in the tender goes October 22.