The Romanian regulator Ancom has raised €433 million ($451m) during its 5G spectrum auction, with Orange gaining the largest share.

It's still way off the €700 million ($729m) the government was hoping to raise, with spectrum in the 700MHz, 1500MHz, 2600MHz, and 3400-3800MHz bands available for operators to bid for.

Orange spent €265 million ($275m) to secure the most spectrum in the auction, reports Mobile Europe.

The operator picked up two blocks of 2x5MHz in the 700MHz frequency duplex division (FDD) band, plus all eight blocks of 5MHz on offer in the 1500MHz band, and 16 blocks of 10MHz in the 3400-3800MHz band.

The operator has already launched 5G in 20 cities across the country, while claiming its 4G service covers over 98 percent of the overall population.

Meanwhile, Vodafone Romania paid €122.5 million ($127m) for one block of 2x5MHz in the 700MHz band FDD, plus 10 blocks of 10MHz in the 3400-3800MHz band. 

Digi Communications (RCS & RDS) paid €45.4 million for four blocks of 2x5MHz in the 2600MHz FDD band and five blocks of 10MHz in the 3400-3800MHz band. 

However, Telekom Romania didn't take part in the auction and is tipped to be heading for an exit from the market. Telekom Romania is owned by Greek operator OTE, which itself is owned by Deutsche Telekom Group.