Vodafone Acquires Spanish Spectrum for $412.8 Million to Expand 5G Coverage
22 Julho 2021 - 3:34AM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC said Thursday that it has acquired spectrum
from the Spanish government to expand its 5G services in the
country for 350 million euros ($412.8 million).
The U.K. telecommunications company said it acquired spectrum in
the 700 MHz band from the Spanish Ministry of Economic Affairs and
Digital Transformation. Vodafone will also pay a licensing fee of
EUR15.5 million each year.
The spectrum has initial holding rights until 2041, with an
automatic renewal for a further 20 years with no additional fees,
subject to meeting license obligations.
Vodafone said it will use the spectrum to expand its 5G
footprint in Spain and offer better coverage, including
indoors.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 22, 2021 02:27 ET (06:27 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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