Masmovil, a Spanish operator, has acquired 40MHz of spectrum in the 3.4-3.8GHz band from Eurona Wireless Telecom for €30 million.
“We can face with optimism the future arrival of 5G and we work to continue leading the customers satisfaction in Spain,” said Meinrad Spenger, CEO of Masmovil.
The deal is awaiting approval from the Ministry of Economy and Businesses, as well as from Eurona’s AGM which is due to take place at some point today.
Of the €30 million, €5.4 million of it was paid during signing, €21.6 million will be paid once approved by the Ministry and the remaining €3 million is contingent and will be paid in 2020.
Once the deal is complete, Masmovil will add another block of 40MHz to its existing block to reach a total of 80MHz in the 3.5MHz band.
The news will enable Masmovil and its brands; Yoigo, Pepephone, Llamaya, to improve its quality of service and deliver faster internet browsing speeds on their phones, as well as the ability to launch new services on its network.