Optus wins 900 MHz spectrum auction for $1.44b

The spectrum boost will deliver significant 5G coverage Australia-wide.

Optus, a wholly-owned subsidiary of Singtel, announced the Australian Communications and Media Authority awarded the telecom network with 2 x 25MHz of the 900MHz low-band radio wave spectrum for a total of $1.44b (AUD 1.476b).

Vice president for networks Lambo Kanagaratnam said, "We are steadily advancing the rollout of Australia's fastest 5G, and combining it with value and innovation, like our suite of Living Networks features. This spectrum means we can offer a significant uplift of 5G coverage nationwide, to even more Australians."

Economic modelling by PwC shows that competitive national deployment of 5G could boost the national economy, with cumulative benefits equal to 1.2% of GDP and 205,000 net new jobs. The same modelling shows that the benefits of 5G deployment in regional Australia over the decade would be equal to 1.4% of GDP, with 45,000 net new jobs created.

The spectrum licences have been awarded for a 20-year term commencing 1 July 2024, with early access expected.

1 AUD = 0.98 SGD