Telecommunications company Swisscom AG (SCMN.VX) Thursday said it has agreed to pay 360 million Swiss francs ($397 million) in the mobile frequency spectrum auction for Switzerland.

"The mobile frequency auction was a success for Swisscom. The company acquired spectrum for operation of the mobile network in all of the preferred frequency ranges," the company said.

The wireless licences newly issued by the Swiss Communications Commission will run until the end of 2028.

-By John Revill, Dow Jones Newswires; +41 43 443 8042 ; john.revill@dowjones.com

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