(Telecompaper) Peru's private investment promotion agency ProInversion has announced that it will finally hold the auction for two of the three blocks of spectrum made available in the 700 MHz band on 26 May. The announcement comes after Proinversion was criticised for setting a reserve price above current levels, requesting a minimum of USD 248.7 million for each 15 + 15 MHz block for a total of USD 854.1 million. The newly released spectrum will be used to complement existing 4G LTE services offered by Movistar, Claro, Entel and Bitel using the AWS band.