Italy raises $7.5bn from its 5G airwaves auction

By Bruno Reis

Italy concluded its two-week long 5G airwaves auction on 2 October, having raised $7.5bn.

The auction collected twice as much funding as the nation’s government had anticipated, according to Bloomberg.

Italy is one of few European countries that offer 5G frequencies, which promise to compete with fibre optic speeds.

The government auctioned 3.7GHz of airwaves, which the Economic Development Ministry claimed offer strong signals in built-up urban areas, for €4.35bn (US$5.03bn).

The Rome and Milan-based Telecom Italia SpA and London-headquartered Vodafone Group Plc acquired the largest blocks, each paying €2.4bn ($2.8bn) for the airwaves.

SEE ALSO:

Following the purchase, Telecom Italia’s shares increased by 2.6% in Milan on 3 October, reaching 49.5 cents.

The French telecommunications company, Iliad SA, has invested €1.19bn ($1.38bn) into 5G mobile phone frequencies.

This displays the firm’s commitment to the market it recently launched in in May this year.

Wind Tre, the merger between H3G SpA and Wind Telecomunicazioni SpA, placed a bid of €517mn ($598.5mn).

The Italian subsidiary of Swisscom, Fastweb, bid €33mn ($38.2mn) for 5G frequencies.

The telecoms are expected to provide an initial payment this year, followed by installments until 2022 when the majority of the funding will be supplied.

Share

Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM

Sustainability