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VOD Vodafone Group PLC

8.65
0.04 (0.46%)
27 Apr 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Vodafone Group PLC NASDAQ:VOD NASDAQ Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.04 0.46% 8.65 8.60 8.65 8.69 8.59 8.67 3,904,598 00:32:59

Vodafone Acquires Spanish Spectrum for $412.8 Million to Expand 5G Coverage

22/07/2021 7:34am

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Vodafone (NASDAQ:VOD)
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By Adria Calatayud

 

Vodafone Group PLC said Thursday that it has acquired spectrum from the Spanish government to expand its 5G services in the country for 350 million euros ($412.8 million).

The U.K. telecommunications company said it acquired spectrum in the 700 MHz band from the Spanish Ministry of Economic Affairs and Digital Transformation. Vodafone will also pay a licensing fee of EUR15.5 million each year.

The spectrum has initial holding rights until 2041, with an automatic renewal for a further 20 years with no additional fees, subject to meeting license obligations.

Vodafone said it will use the spectrum to expand its 5G footprint in Spain and offer better coverage, including indoors.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

July 22, 2021 02:27 ET (06:27 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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