C. Final results of the bidding stage

With verification of the fulfilment, in Round no. 9, of the cumulative conditions set out in paragraphs 1 and 2 of article 22 of the Auction Regulation, which determine the occurrence of the last round, and with communication of this fact to all bidders at 5:23 pm on 30 November 2011, pursuant to the provisions of paragraph 3 of the same article (Alert no. 87 of Annex 48), at 5:32 p.m., determination of the final results of the bidding stage was begun (Events nos. 51 and 52 of Annex 49):

With regard to Table no. 5, it is noted that:

a) In calculating the final amount, the price reduction provided for under paragraph 3 of Article 25 of the Auction Regulation has not been applied, given that VODAFONE, the only bidder for lots in Category C, holds rights of use of frequencies in the 890-915 MHz/935-960 MHz band;

b) There were no penalties applied as provided for under paragraphs 5 et seq. of article 24 of the Auction Regulation, taking into account the fact that no cancellations of best offers were submitted, under the terms of paragraph 1 of the same article (in accordance with the records as shown in Annex 47).

Based on the determined results, the Management Board of ICP-ANACOM decided, by determination taken at 5:45 p.m. on 30 November 2011:

a) To confirm the determination of the winning bidders, conforming with the criteria laid down in paragraph 1 of article 25 and pursuant to the provisions of the 2nd part of point c) of paragraph 2 of article 4 of the Auction Regulation;

b) To determine notification to all bidders, using the electronic platform, of the information stipulated under article 26 of the Auction Regulation.

In execution of this determination, the final results of the bidding stage were notified to all bidders through the Licitação - Resultado Final (Bidding - Final Result) tab of the electronic platform, at 6:03 p.m. on 30 November 2011 (Event no. 53 of Annex 49 and Alert no. 88 of Annex 48), in the following format (Annex 50):

a) The identity of winners and indication of the number of lots won in each category (Table A of Annex 50, in accordance with point a) of article 26 of the Auction Regulation);

b) The final price of each lot (Table B of Annex 50, in accordance with point b) of article 26 of the Auction Regulation);

c) The final amount, calculated in accordance with paragraphs 2 and 3 of article 25 of the Auction Regulation, and any penalties payable under the terms of article 24 (Table C of Annex 50, in accordance with points c) and d) of article 26 of the Auction Regulation).

In accordance with the provisions of Section 7 of the general clarification issued by ICP-ANACOM on 2 November 2011, the final results of the bidding stage were published on the website of this Authority, also on 30 November ¹.

In summary and in light of the final results of the bidding stage, twenty-nine of a total of thirty-nine lots under auction were allocated: