SINGTEL’S : Z74 0% Optus has obtained four spectrum lots for A$33.5 million (S$29.4 million) in total, in the latest government spectrum auction, it said on Thursday (Nov 23).

The lots amount to 20 MHz of mid-range 3.7 GHz spectrum across North New South Wales and South Queensland.

They will be valid for 20 years, commencing in 2024 and expiring in 2044.

Optus said that the new spectrum licences will enable it to offer improved 5G services to customers across Australia.

It presently has 35 MHz holdings of 3.6 GHz spectrum in this area.

Keeping the 2032 Brisbane Olympics in mind, the company said that the new licences will cover key tourist destinations such as the Gold Coast, Noosa, Bundaberg, Hervey Bay, Maryborough, Toowoomba, Tweed Heads, Byron Bay, Coffs Harbour as well as Tamworth.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Telstra – Australia’s biggest telco by market share – has invested A$546 million to secure up to 110 MHz of additional mid-band spectrum in the spectrum auction, it said.

The move includes obtaining an additional 80 MHz of spectrum in Sydney and Melbourne.

Telstra said that the spectrum acquired is the foundation for increasing capacity to support growing demand across metro and regional areas.

It will also significantly enhance customer network experience and speed.

Shares of Singtel ended Wednesday up S$0.04 or 1.8 per cent at S$2.29.