Telstra Corporation Limited
(ASX:TLS) has secured licences in the spectrum auction for $1.3 billion.
The spectrum allocations will be funded mostly through debt and Telstra is required to pay the amount in the third quarter of 2014.
The spectrum licenses have a 15-year term.
Telstra CEO David Thodey says the auction result is a significant outcome for customers as it will help ensure the company remains at the forefront of mobile connectivity.
He says the spectrum will be used to enhance the company’s network and help support the extraordinary growth in demand for mobile services and data.
Telstra generated a net profit of $1.6 billion in the first half of the 2013 financial year.
