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Re:The Sale of the British 3G Telecom Licenses (2002) [pdf] by nicky0 on Wednesday September 07, 2016 @08:17AM (#12442687)
The article mentions that there licences were to last only until 2021. Not sure what happens in 2021 though.

Edit: after a bit of googling it looks like the licences will be re-tendered in 2021

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