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UK regulator Ofcom has already given some indication that it intended to follow the FCC and sell off some public radio spectrum of its own, and it now looks like its really about to get the ball rolling, with it giving the official go-ahead for some key spectrum to be sold off through a “market mechanism.” As The Independent reports, that spectrum could wind up netting as much as £20 billion (or just under $40 billion) when all is said and done, with the Ministry of Defence (which holds about 75% of it) likely to be the biggest beneficiary. It’ll likely still be a while before all those pounds start changing hands, however, with Ofcom still undecided about new regulations for the spectrum and the exact mechanism for selling off the spectrum not yet in place.