Singapore Telecommunications' subsidiary Optus has successfully acquired licenses for a spectrum band that will support its 5G network for A$226.2 million ($232.33 million).
According to a media release dated April 23, the new licenses, in the 26 gigahertz (GHz) spectrum band, will deliver 5G speeds and expand Optus’ 5G network in metropolitan and regional Australia.
SEE:Singtel kept at 'buy' by Phillip as regional associates see recovery
Optus acquired 800 megahertz (MHz) of 26GHz spectrum in Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra and a range of regional areas, as well as 600MHz in Hobart and Margaret River in Western Australia.
The licenses will come into force later this year, for a 15-year term ending in 2036.
As at 9.38am, shares in Singtel are down 2 cents or 0.79% lower at $2.51.
