By Adriano Marchese

Vodafone Group PLC said Wednesday that it has acquired a ten-year license for 40 megahertz of 2.6 gigahertz TDD spectrum from the National Telecommunications Regulatory Authority in Egypt.

The telecommunication company said that payments will be phased over three years, with a first payment of $270 million and two subsequent payments of $135 million, due in 2021 and 2022 respectively.

The spectrum will enable Vodafone Egypt to significantly expand network capacity to meet growing demand, the company said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 04, 2020 12:23 ET (17:23 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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