Telstra's acquisition of mid-band spectrum

Telstra Group Limited (ASX:$TLS) has successfully secured up to 110 MHz of additional 'mid band' spectrum in the 3.4 / 3.7 GHz spectrum auction held by the Australian Communications and Media Authority. The company invested $546 million in this spectrum to deliver even better 5G experiences to mobile customers across most parts of Australia through an additional 55 to 110 MHz of spectrum. Telstra acquired a large proportion of the available spectrum at a highly competitive price, setting up its mid-band spectrum assets for the next 20 years.

Executive commentary on Telstra's spectrum acquisition

Telstra CEO Vicki Brady stated, '5G has completely changed how we use mobile devices and we continue to see customers' demand for data growing. Adding this mid-band spectrum to our network means our customers will get an even better and more consistent mobile experience through more capacity to carry data. This investment moves our mobile leadership forward and enables Telstra to continue to pioneer future capabilities and generations of mobile technology for Australia. It's particularly pleasing that we've also secured a significant amount of spectrum covering large parts of regional Australia. This will mean that even more customers in more places will enjoy our world-leading 5G network.'

Summary of Telstra's mid-band spectrum acquisition

Telstra (ASX:TLS) has successfully secured additional mid-band spectrum in the 3.4 / 3.7 GHz spectrum auction, investing $546 million to enhance its 5G network experience. The acquisition of up to 110 MHz of spectrum, including an additional 80 MHz in key capital city markets, sets Telstra's mid-band spectrum assets for the next 20 years. This move is expected to significantly enhance customer network experience and speed, meeting the growing demand for data across metro and regional areas. With Australia's largest 5G network, covering over 85% of the population, Telstra aims to continue pioneering future mobile technology capabilities and generations. The company's acquisition of spectrum in regional Australia is set to benefit more customers in more places, further solidifying Telstra's position as a leader in providing a world-leading 5G network.