Vodafone Spain acquires 5G spectrum for €350 million

LONDON, UK: Vodafone Spain has acquired 2×10 MHz of spectrum in the 700 MHz band from the Spanish Ministry of Economic Affairs and Digital Transformation (‘MINECO’) for €350 million.

The total amount will be payable in a single instalment following the conclusion of the auction process. In addition, a licensing fee of €15.5m will be payable each year.

The spectrum acquired has initial holding rights until 2041, with an automatic renewal with no additional fees for a further 20 years (until 2061), subject to meeting the licence obligations.

Vodafone Spain will use the spectrum to continue offering one of the leading mobile experiences in Spain through its ‘built right’ approach to 5G, expanding its footprint and offering better coverage, including indoor buildings.

Colman Deegan, CEO of Vodafone Spain, said: “Vodafone welcomes the improved conditions offered by the government for this spectrum auction, which represents an important step towards achieving a sustainable, economically viable sector necessary for continued investment in connectivity.”

“The new 5G frequencies acquired today will enable Vodafone Spain to accelerate the deployment of our leading 5G network in the coming months, ensuring that consumers and businesses can take advantage of digital transformation opportunities to support economic recovery after the pandemic.”

www.vodafone.es

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