Recent political events in our country have focused attention on the issue of radio fre- quencies, such as «public good that has an important value, social cultural (especially) economic». It is understood that the allocation of the rights of use can represent a valuable economic resource for the losses in the state budget. And so, since the Stability Law of 2011 (l. n. 220/2013) it has been imposed on Authority for the Communications Authority (AGCOM) and the Ministry of Economic Development (MiSE), to initiate procedures for the allocation of radio frequencies, released as a result of the transition from analogue system to the digital. The gradual reallocation took place in part, free of charge, during the transition from analogue to digital TV broadcasters; and partly (the most significant) for consideration, through two calls. The first, reserved for mobile operators to provide mobile services of fourth generation (4G) and concluded in September 2011, made it possi- ble to collect 3.945 billion euro against the 2.4 billion estimated by the Ministry of ‘economic (MEF). The second was based on a different method of allocation, the c.d. Beauty contest, and it has been definitively canceled with l. n. 44/2012. After an arduous process, the new notice was published in Official Gazette of 12 February 2014, with deadline, after adjustment, scheduled for 15 April 2014. In this context, there are a number of questions: In Italy, who supervises a resource so important? What is the object of such control, and as such activity is substantiated? The present system can be considered virtuous? The answer to these questions is far from easy. This paper aims to provide answers to the questions identified, and then groped to highlight the lights and shadows of the Ital- ian system, all in comparative perspective with the corresponding English system. The choice of GB, as a comparison, is sought in the innovator that this country has always demonstrated in the TLC sector, so as to have affected, starting in the ’80s, the European liberalization process.