Australia's Wireless Spectrum Bought

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Australia's wireless spectrum has been sold off to the consortium of Telstra Corp, Singapore Telecommunications Ltd's Optus unit and TPG Telecom Ltd. The consortium would be paying out Aus$1.96 billion for the project.

Australia's largest phone company, Telstra would be paying Aus$1.3 billion for spectrum in the 700 and 2.5 gig hertz bands according to the Australian Communications and Media Authority. In the emailed statement, Optus would be paying Aus$649 million for allocations in the same airwaves used for television purposes.

Many phone companies in Australia are purchasing airwaves for their mobile operations as the national fiber network's construction has limited their capacity as wholesalers in the fixed line services.

The regulator further said that TPG would be paying Aus$13.5 million for spectrum in the 2.5 gighertz range while Telstra had also purchased the maximum allocation in the same bandwidth, for wireless broadband services.

For its part, Telstra would be financing the licenses through a debt purchase.

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