REG - Telstra Corp. Ld - Telstra invests in 26 GHz spectrum auction

TelstraAnnouncement

23/04/2021 07:00

RNS Number : 3782W
  
Telstra Corporation Ld
  
22 April 2021
  
 

 
 




23 April 2021
 
 
 
 
The Manager
 
 
RNS


 
Office of the Company Secretary
 
Level 41

242 Exhibition Street

MELBOURNE VIC 3000

AUSTRALIA
 
General Enquiries    03 8647 4838
Facsimile 03 9650 0989
companysecretary@team.telstra.com
 
Investor Relations
Tel:  1800 880 679
investor.relations@team.telstra.com
 




 
ELECTRONIC LODGEMENT
 
 
Dear Sir or Madam
Telstra reinforces 5G leadership, investing $277 million to secure 1000 MHz nationally in 26 GHz spectrum auction
 In accordance with the Listing Rules, I attach a market release for release to the market.
 
 
Authorised for lodgement by:
 
 
Sue Laver
Company Secretary
 
 
Telstra reinforces 5G leadership, investing $277 million to secure 1000 MHz nationally in 26 GHz spectrum auction
 
Friday, 23 April 2021 - Telstra today announced it had secured 1000 MHz in the 26 GHz spectrum auction, investing $277 million to further extend its leadership in 5G now and into the future. 
 
Telstra secured the spectrum in all major capital cities and regional areas where it was sold.
 
Telstra CEO Andrew Penn said the new mmWave spectrum would dramatically increase capacity and speeds for Telstra customers, building on the already superior 5G experience Telstra provides across the country. 
 
"High speed connectivity is critical to Australia's future prosperity and our aspirations to be a world leading digital economy. It has become central to all of our lives - the way we live, work, keep ourselves entertained and stay connected, and more and more 5G will be at the heart of that," Mr Penn said. 
 
"Telstra is already leading the way in 5G, and this investment of $277 million in highly sought after spectrum will help us broaden and deepen our 5G connectivity for more Australians across the country. 
 
"mmWave spectrum is especially good at providing high-speed mobile broadband in high-density areas, such as built up cities and towns, train stations, sport stadiums and other locations with a high concentration of people using their mobile devices. 
 
"Imagine watching the Grand Final at the Melbourne Cricket Ground, with your 5G-powered augmented reality goggles overlaying real time player stats, all at the same time as thousands of others are enjoying the game alongside you - that's the immense bandwidth and speed that mmWave can offer.
 
"Telstra has been testing mmWave at a number of sites for some time, achieving a record peak download speed of 5 Gbps in a test earlier this year. We launched our first mmWave-compatible device in May 2020 and we are working closely with global device manufacturers to bring more mmWave-capable devices to market this calendar year."
 
Mr Penn said the additional capacity would also enable the mobile network to be used more effectively for 5G broadband in the home, providing another way to deliver fast and reliable internet where the current fixed connection may not meet a customer's needs. 
 
"We're delighted with the outcome of the auction and while the licenses won't come into effect until around the middle of the year, the ACMA is making available early access licensing which will allow us to use the spectrum even sooner," Mr Penn said. 
 
Telstra's 5G technology now covers almost two-thirds of the Australian population and is on track to reach 75 percent by the end of June 2021. 
 
There are now more than 3,200 Telstra 5G sites on-air in more than 160 cities and towns, and 5G coverage is available in more than 2,450 suburbs across the country. 
 
Telstra intends to pay for the spectrum in five equal annual instalments. 
 
Media contact: Steve Carey
M: +61 (0) 413 988 640
E: media@team.telstra.com
 
Investor contact: Nathan Burley
M: +61 (0) 457 529 334
E: investor.relations@team.telstra.com 
 
Reference number: 029/2021

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