So the money either goes to government or the telcos' employees and shareholders. It's a valid goal for the government to attempt not to undersell the asset, but as you say it's primarily a transfer. If you want an example that changes more than market prices, have a look at Roth's work on matching for hospitals, schools and organs:
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http:...