The National Audit Office (NAO) is to carry out an investigation into Ofcom's auction of the 4G airwaves, it has been reported.
According to the Guardian, the NAO is concerned about the low sum of money generated by the sale of 800MHz and 2.6GHz spectrum to the private telecoms sector.
The auction raised £2.3 billion for the Treasury, £1.2 billion less than had been anticipated and £3 billion less than the potential maximum.
Amyas Morse, the NAO Auditor General, expressed his concerns about the process in a letter to Helen Goodman, the Shadow Minister for Media and Communications.
He outlined his intention to conduct a "value-for-money study" of the 4G auction - staged by Ofcom to allocate 800MHz and 2.6GHz spectrum to UK mobile broadband providers.
Ms Goodman welcomed the news, saying it is "entirely right" that the NAO has launched an investigation.
"Serious questions must be answered as to why the Conservative-led government ended up £1 billion short of the estimate George Osborne had provided just months earlier," she stated.
"When the 3G auction took place, Labour ensured that maximising revenue was an objective. The Conservative-led government did not do the same for the 4G auction, which I believe was a serious mistake."