But the case for 5G services still needs to be made, says Matthew Howett, founder of research firm Assembly.
"Everyone is still unsure of the 5G business model and use cases with the hype largely being driven by those who make the network equipment," he said.
"Operators still have so much more they can do with their 4G networks and investment is still going into improving the performance and coverage of those."
5G will work across a number of spectrum bands, so those missing out in this latest auction will still be able to roll out 5G services, he added.
"Naturally all operators will be looking to limit the amount they bid given the reluctance of customers to pay more for faster speeds," said Mr Howett.
"This auction is certainly unlikely to net as much as the last auction for 4G spectrum, and nowhere remotely close to the eye-watering £22.5bn operators paid for 3G licences almost two decades ago."
Rent-a-church spire plan to boost mobile phone coverage
Digital analysts welcomed the development but said "the devil would be in the detail".
"Getting access to suitable sites, particularly in rural areas, has been a real challenge for mobile operators, so any initiative aimed at improving this will be welcomed by the industry," said Matthew Howett, principal analyst at research firm Assembly.
"What's not clear, though, is what the commercial relationship looks like. There have been many stories of rural land owners effectively holding operators to ransom for access to some sites, which has slowed down rollout and added considerably to the cost."
Ten gigabit home broadband tested in UK
Matthew Howett, principal analyst at Assembly said: "After years of debate about Britain being on a 'low-fibre diet', in a relatively short period of time we've seen commitments from investors including Openreach, Vodafone, CityFibre and TalkTalk to up the amount of fibre in the network.
"While this announcement is not a new investment, it goes to show the potential full-fibre technology has and what is possible once the fibre has been laid. Of course the challenge now is to convince consumers of the need for these vastly higher speeds today and crucially to get them to part with the cash and pay a higher monthly bill."
5G rollout legal challenges defeated
One industry watcher said the regulator would be mindful that it had lost a separate appeal involving BT last month, external.
"Three have nothing to lose by going for the challenge, which would delay the auction," commented Matthew Howett from the consultancy Assembly Research.
"But I don't think that will delay 5G services for consumers. 5G as a standard hasn't even been defined yet. Yes, there's a lot of hype, but it's primarily from the handset-makers rather than the operator community. Realistically, credible 5G services won't be ready until about 2021."
Broadband overt 'wet string' tested for fun
Matthew Howett, principal analyst at research firm Assembly said: "While we often get tied up in knots over whether it should be fibre to the street cabinet or fibre all the way to the home, one thing's for certain and that's that this isn't going to make it into the mix of technologies companies like Openreach or Virgin Media will be using."