More on Google permutations
The F.C.C. said it had received a $4.7 billion bid for the C Block on Thursday morning. The F.C.C. will not identify who places top bids until the auction for the C Block and for other portions of the spectrum are completed, a process that could take weeks. Many analysts believe that Google has no intention of winning.
But the uncertainty has been a drag on Google’s shares. Some investors fret that if the company won the spectrum, it might have to spend even more to build out a wireless network. Google ended 2007 with more than $14 billion in cash and marketable securities.