Telstra invests $386 million to support its national 5G rollout

Company News

by Anna Napoli

Telstra (ASX:TLS) says it has invested $386 million to support its national 5G rollout.

The telco successfully secured between 30 to 80 MegaHertz (Mhz) nationwide in the 3.6 GigaHertz (Ghz) spectrum auction held by the Australian Communications and Media Authority.

Combined with existing holdings, Telstra now has 60 Megahertz of continuous 5G spectrum in all major capital cities.

CEO Andrew Penn says securing the spectrum means Telstra will continue to play the leading role in bringing 5G capabilities and super-fast connections to Australians in both cities and regional areas.

Shares in Telstra (ASX:TLS) closed 1.3 per cent higher at $3.08 on Friday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.