25th Jul 2018 16:01
LONDON (Alliance News) - FTSE 100-listed telecommunications company Vodafone Group PLC said Wednesday that its Spanish arm has acquired spectrum for 5G services at a total cost of EUR198.1 million.
Vodafone Spain will pay the EUR198.1 million fee in 20 equal annual installments at an interest rate of 2.35%. The Spanish operator won 90 megahertz of spectrum in the 3,700 megahertz frequency band at an auction held by the Spanish Economic Ministry.
This high-frequency spectrum is vital for the roll-out of 5G, enabling Vodafone Spain to provide high internet speeds in the gigabit range. 5G download speed could go as as high as 1,000 times faster then 4G - quick enough to download an entire HD film in less than ten seconds.
Vodafone Spain did not purchase any other spectrum holdings during the auction and retains its pre-auction holdings in the 800 to 2,600 megahertz range.
Shares in Vodafone Group were down 1.3% at 175.40 pence on Wednesday.
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