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- Release Date: 30/10/13 11:49
- Summary: GENERAL: TEL: Telecom - 700MHz spectrum auction first round
- Price Sensitive: No
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TEL
30/10/2013 09:49
GENERAL
REL: 0949 HRS Telecom Corporation of New Zealand Limited
GENERAL: TEL: Telecom - 700MHz spectrum auction first round
MARKET RELEASE
30 October 2013
Telecom acquires management rights in 700MHz spectrum auction first round
The Minister for Communications and Information Technology, Amy Adams, has
announced that Telecom has acquired management rights to three lots (2x 15
MHz) of the 700MHz spectrum band in the first round of the Government auction
process. The successful bidding price was the reserve price of NZ$66 million
(plus GST).
Telecom Chief Executive Simon Moutter, said, "We are pleased to have acquired
management rights for the maximum three lots available to an operator in the
first round of the auction. These rights will underpin our plans to bring 4G
network speed and performance to more New Zealanders."
The 700MHz spectrum band, previously used for analogue broadcast services, is
expected to allow mobile operators to provide 4G mobile broadband services -
already being built in New Zealand's main cities - much more extensively in
New Zealand, including in less densely populated areas.
Telecom is already well advanced in the build of its 4G network in major
urban areas using 1800MHz spectrum, and will be launching 4G services for
customers in Auckland, Wellington and Christchurch on 12 November.
However 1800MHz spectrum is not particularly well suited for use outside
major urban areas. In less densely populated areas, the broader coverage
range of lower frequency spectrum such as the 700MHz band enables a 4G
network to be built with less cell site infrastructure, significantly
improving the network economics.
Please find enclosed a copy of the Ministers statement.
- ENDS -
For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications +64 (0) 27 523 2362
For investor relations queries, please contact:
Mark Laing
General Manager Capital Markets & Investor Relations +64 (0) 27 227 5890
End CA:00243037 For:TEL Type:GENERAL Time:2013-10-30 09:49:10
