Singapore Telecommunication’s (Singtel) Australia-based subsidiary, Optus, has secured four 20MHz of mid-range 3.7GHz spectrum lots in the latest government auction.
The lots were clinched for a total of A$33.5 million ($29.4 million) across north New South Wales and south Queensland which includes key tourist destination regions such as the Gold Coast, Noosa, Bundaberg and Byron Bay.
The new spectrum lots mean Optus customers will be able to experience better 5G from the telco in these areas.
The 3.7GHz licenses are valid for 20 years starting from 2024.
As at 9.21am, shares in Singtel are trading 2 cents lower or 0.87% down at $2.27.
