TPG Telecom
(ASX:TPM) has successfully bid for two lots of 4G spectrum at the General Spectrum Auction in Singapore this week.
TPG will pay S$23.8 million (or AU$22.5 million) for 10 MHz of spectrum in the 2.5 GHz band, which it plans to use for enhancing its offerings to Singapore customers.
The 2.5GHz spectrum will complement the spectrum that TPG previously acquired in December 2016 for AU$100 million.
TPG previously announced it plans to invest AU$381 million to become the fourth mobile network in Singapore.
This morning, TPG shares fell 0.74% to $6.66.
