TPG Telecom Limited
(ASX:TPM) says it was a successful bidder at the spectrum auction.
The company will pay $13.5 million for a total of 20 MHz in the second half of 2014.
TPG says the spectrum is a valuable asset, which will help it offer innovative products to its customers, especially in the wireless broadband market.
At the same auction, Telstra Corporation Limited
(ASX:TLS) secured licences for $1.3 billion.
TPG generated a net profit of $78.3 million for the first half of the current financial year.
