Can Latin America learn from the experience in Germany, where the auctionof spectrum for 5Gwas qualified as a "disaster" for the country? This question was left unresolved in a debate this afternoon at CLT 2019, after Ana Valero, Director of Regulation at Telefónica Latin America, commented on the case. One of the determining factors for the outcome of the process was the original design of the auction, in which 100 MHz were reserved for verticals, with industrial uses, at 3.5 GHz (the undisputed band for 5G, as Valero emphasized, being the first that will have an ecosystem of equipment and terminals). "The lack of definition about what will happen with this spectrum generated an" artificial shortage "of spectrum and led to four players competing very hard round by round.