4:40 PM -- The four operators in Germany's spectrum auction have made it through a total of 15 rounds after the close of Day 3 and racked up a total of €139.8 million (US$190.8 million) in bids.

The bidding picked up pace today for frequency blocks in the 800MHz band -- which is considered valuable for Long Term Evolution (LTE) -- as E-Plus Mobilfunk GmbH , Deutsche Telekom AG (NYSE: DT), Telefónica O2 Germany GmbH & Co. OHG , and Vodafone Germany raised their bids. (See German Spectrum Auction: Day 2 and German Spectrum Auction: Day 1.)

This is only the beginning. The last spectrum auction in Germany in 2000 lasted for three weeks and went 173 rounds. Some analysts estimate that the proceeds from this auction could total around €8 billion.

The auction results are posted here each day.

— Michelle Donegan, European Editor, Light Reading Mobile