Telecom Italia Invests More Than EUR1.69 Billion in 5G Auction
October 03 2018 - 1:42AM
Dow Jones News
By Nathan Allen
Telecom Italia SpA (TIT.MI) said late Tuesday that it has
invested 1.69 billion euros ($1.96 billion) in a block of 5G
internet bandwidth as part of Italy's mobile spectrum auction.
It also successfully bid EUR33 million for a separate block and
has already won bids for two other sections, bringing its total
investment in this auction to EUR2.41 billion. Telecom Italia said
this is the largest investment of any company participating in the
spectrum auction.
"The frequencies all have different and complementary
characteristics in terms of coverage, penetration and capacity, and
will be available until 2037," Telecom Italia said.
The company said the outlay would have an impact of around
EUR480 million on its 2018 net financial position.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 03, 2018 01:27 ET (05:27 GMT)
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