Telecom Italia Invests More Than EUR1.69 Billion in 5G Auction

   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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