Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Telstra (TLS) spends $616 million to increase 5G coverage in rural and remote areas
  • The telco giant purchased two of the 10 megahertz in the Australian Communications and Media Authority’s 850/900 megahertz band auction
  • This was the maximum amount of ‘low band’ spectrum Telstra was allowed to bid for under the competition limits set by the Government
  • Telstra will use the spectrum to meet its commitment in the T25 strategy to provide 5G coverage to 95 per cent of the population by 2025.
  • On the market, Telstra is up 0.50 per cent and trading at $4.03 per share

Telstra (TLS) has spent $616 million to increase 5G coverage in rural and remote areas.

The telco giant purchased two of the 10 megahertz in the Australian Communications and Media Authority’s 850/900 megahertz band auction.

This was the maximum amount of ‘low band’ spectrum Telstra was allowed to bid for under the competition limits set by the Government.

Telstra will use the spectrum to meet its commitment in the T25 strategy to provide 5G coverage to 95 per cent of the population by 2025.

Notably, this spectrum is ‘essential’ for carrying mobile data, particularly 5G, over the vast distances needed across regional and remote areas and also provides better coverage indoors and other difficult to reach places in metro locations.

Chief Financial Officer and Group Executive Vicki Brady said securing this spectrum was important to Telstra.

“With the 2x10MHz of 850MHz spectrum we’ve secured in this auction, added to our existing spectrum holdings, we now hold 2x40MHz of low-band spectrum in the major cities and 2x45MHz in regional and remote areas,” she said.

“This is more than any other carrier, which is important given our larger customer base, and will help us continue to provide the best mobile coverage and service.”

Over seven years, to the end of FY22, Telstra has invested $11 billion in its mobile network nationally, with $4 billion of this invested in regional mobile networks.

Telstra’s mobile network now covers one million square kilometres more than any other telco- that is the size of NSW and Victoria combined.

Ms Brady said Telstra would keep investing to ensure it maintained its leading mobile coverage and helped regional and remote communities fully participate in the digital economy.

“This is especially important as our nation rapidly digitises, as migration to regional areas continues at pace, and as billions of devices, like water sensors, home and business security cameras, and smart meters are generating data like never before,” she said.

On the market, Telstra was up 0.50 per cent and is trading at $4.03 per share at 12:16 pm AEDT.

TLS by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…