News: TPM TPG Telecom Says Joint Venture Acquires 5G Spectrum Nationally

Dec 10 (Reuters) - TPG Telecom Ltd (TPM) :

• JOINT VENTURE ACQUIRES 5G SPECTRUM NATIONALLY
• MOBILE JV TO PAY $263.3 MILLION IN EARLY 2020 FOR LOTS IN AUCTION THAT IT HAS PURCHASED
• WEIGHTED AVERAGE OF PRICE PAID FOR SPECTRUM IN AUCTION WAS ABOUT $0.29 PER MHZ PER HEAD OF POPULATION
• MOBILE JV IS A 50/50 JOINT VENTURE AND TPG IS REQUIRED TO FUND ONE HALF OF PURCHASE PRICE AT TIME OF PAYMENT
• SAYS ITS JV WITH VHA AUSTRALIA, MOBILE JV PTY LTD, HAS BEEN A SUCCESSFUL BIDDER IN AUCTION FOR SPECTRUM IN 3.6GHZ BAND
• MOBILE JV SECURED BID FOR 12 5MHZ LOTS IN SYDNEY, MELBOURNE, BRISBANE, CANBERRA, ADELAIDE, AND PERTH
• TPG JOINT VENTURE ACQUIRES 5G SPECTRUM NATIONALLY