As expected, Google has confirmed it will bid for the 700MHz wireless spectrum at auction in the United states.

The Sears Building on Google Earth

The bidding will place the company in competition with big telcos like AT&T and Verizon.

Investors have not taken the news with total delight, however, many worried about the projected cost of $10bn to build out a wireless network.

Google’s recent concentration on mobile telephony fits in with this latest move beyond its core business of search and online advertising.