Vodafone GroupPlc's Vodafone Hutchison Australia will reportedly pay $594.3million to acquire 2 x 10 MHz of the unsold 700 MHz "digital dividend"spectrum from the Australian government.
The Department of Communications said it received an "unsolicitedproposal" for a license term of 11 years and nine months, iTWire reportedMay 9. Vodafone will make the payment in three installments over three years.
The telco previously had withdrawn from the spectrum auctionin 2013, leaving Telstra Corp.Ltd. and SingTelOptus Pty. Ltd. to secure bids for the 700 MHz band. The Departmentof Communications said the terms of Vodafone's proposal replicates the rules ofthe auction to ensure the company is not at an advantage by not havingparticipated.