Singtel’s Optus secured 4 new spectrum lots for S$29.4M

AUSTRALIA: Singapore Telecommunication, Singtel’s Australia-based subsidiary, Optus, secured four new spectrum lots for S$29.4 million. The four new spectra acquired are 20MHz mid-range 3.7GHz spectrum lots in the latest government auction, as reported by The Edge Singapore.

The total value of this strategic move amounts to S$29.4 million (A$33.5 million). The secured spectrum lots are spread across north New South Wales and South Queensland, covering key tourist destinations such as the Gold Coast, Bundaberg, Noosa, and Byron Bay.

On a broader scale, The Business Times mentioned that Telstra, Australia’s biggest telco by market share, has made a substantial investment of S$480.6 million (A$546 million) to secure up to 110 MHz of additional mid-band spectrum in the same spectrum auction. This includes obtaining an extra 80 MHz of spectrum in Sydney and Melbourne.

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

These newly acquired spectrum lots hold significance as they pave the way for improved 5G experiences for Optus customers in these regions. The 3.7GHz licenses come with a validity period of 20 years, starting from 2024, reflecting a long-term commitment to technological advancements in telecommunications.

In addition, shares in Singtel have seen a slight decline, with a 0.87% drop as of Nov 23, 9:21 am, bringing the current trading value to $2.27. /TISG