22nd Jul 2021 08:31
(Alliance News) - Vodafone Group PLC on Thursday said its Spanish arm has acquired 2x10 megahertz of spectrum in the 700 MHz band from the Spanish government for EUR350 million.
The total amount will be payable in a single instalment following the conclusion of the auction process. In addition, a licensing fee of EUR15.5 million will be payable each year, Vodafone Spain said.
The spectrum acquired has initial holding rights until 2041, with an automatic renewal with no additional fees for a further 20 years, subject to meeting the licence obligations.
"Vodafone Spain will use the spectrum to continue offering one of the leading mobile experiences in Spain through its built right approach to 5G, expanding its footprint and offering better coverage, including indoor buildings," the company said.
"The new 5G frequencies acquired today will enable Vodafone Spain to accelerate the deployment of our leading 5G network in the coming months, ensuring that consumers and businesses can take advantage of digital transformation opportunities to support economic recovery after the pandemic," said Chief Executive Colman Deegan.
Vodafone Spain will have 7 total spectrum holdings post-purchase.
Shares in Vodafone were up 1.0% at 116.24 pence each in London on Thursday morning.
By Amrit Sahota; [email protected]
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