Telecom giant Telstra (ASX:TLS) has secured the maximum amount of low band spectrum in the Australian Communications and Media Authority’s 850/900 MHz band auction, investing $616 million to secure 2x10MHz.
Telstra said the bid was a win for Telstra customers, especially for the people, businesses and communities of regional and rural Australia.
“With the 2x10MHz of 850MHz spectrum we’ve secured in this auction, added to our existing spectrum holdings, we now hold 2x40MHz of low-band spectrum in the major cities and 2x45MHz in regional and remote areas,” said chief financial officer Vicki Brady.
“This is more than any other carrier, which is important given our larger customer base, and will help us continue to provide the best mobile coverage and service.”
“The spectrum is essential for carrying mobile data, particularly 5G, over the vast distances needed across regional and remote areas and also enables us to provide better coverage indoors and other difficult to reach places in metro locations.”
Shares in Telstra (ASX:TLS) are trading 0.5 per cent higher at $4.03.