Vodafone, Telefonica UK, EE, Hutchison 3G UK and Niche Spectrum Venutres have won spectrum.
The National Audit Office (NAO) is planning to investigate 4G spectrum auction in the UK, conducted by Ofcom earlier this year, which raised £2.3bn, less than the expected value of about £3.5bn.
Vodafone, Telefónica UK, EE, Hutchison 3G UK and Niche Spectrum Venutres have won spectrum licences.
The Guardian cited a letter in which the NAO’s auditor general, Amyas Morse, told the Labour MP Helen Goodman, shadow minister for media and communications: "I intend to conduct a value-for-money study of Ofcom’s recent auction of 4G spectrum."
"By not making maximising the auction’s revenues an objective for Ofcom, the government has failed to get value for money on this project," Goodman complained to Morse.
Goodman was quoted by the Guardian as saying that, "It is entirely right that the National Audit Office has launched this investigation."
"Serious questions must be answered as to why the Conservative-led government ended up £1bn short of the estimate George Osborne had provided just months earlier," Goodman said.
"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."
While revealing winners, Ofcom said the results of the auction means there will be strong competition in the 4G mobile market, which will lead to faster mobile broadband speeds, lower prices, better coverage and greater innovation.