By John Smith • 22 July 2021 • 15:27
Vodafone Spain office
VODAFONE Spain purchased on July 22 a new block of 5G bandwidth from the Spanish Ministry of Economic Affairs and Digital Transformation for €350 million.
The total amount will be payable in a single instalment following the conclusion of the auction process and in addition, a licencing fee of €15.5 million will be payable each year.
The spectrum acquired has initial holding rights until 2041, with an automatic renewal with no additional fees for a further 20 years, until 2061, subject to meeting the licence obligations.
In contrast, In the first stage UK auction, Vodafone paid £174 (€191) million for bandwidth.
“Vodafone welcomes the improved conditions offered by the government for this spectrum auction, which represents an important step towards achieving a sustainable, economically viable sector necessary for continued investment in connectivity” said Colman Deegan, CEO of Vodafone Spain.
“The new 5G frequencies acquired today will enable Vodafone Spain to accelerate the deployment of our leading 5G network in the coming months, ensuring that consumers and businesses can take advantage of digital transformation opportunities to support economic recovery after the pandemic.”
This acquisition will allow the company to expand its footprint and offer better coverage, including inside of buildings.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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