Australian mobile network provider Singtel Optus (Optus) has completed its A$230m (US$233m) deal to buy Vividwireless Group from media company Seven Group Holdings (SGH).
The deal was originally agreed in February with Optus looking to expand its…
Australian mobile network provider Singtel Optus (Optus) has completed its A$230m (US$233m) deal to buy Vividwireless Group from media company Seven Group Holdings (SGH).
The deal was originally agreed in February with Optus looking to expand its spectrum holdings.
Optus has paid A$170m (US$172.5m) upfront in cash, and the remaining A$60m (US$60.9m) will be paid on the re-issue of spectrum licences, according to a statement from SGH.
Vividwireless has already received confirmation from the Australian Communications and Media Authority (ACMA) that it is putting its 12 main licenses to use correctly – the essential and final pre-condition for the re-issuance of spectrum licences.
Optus will pay the ACMA for the re-issuing of the licences, subject to the authorities granting renewal.
The deal should give Optus access to up to 98MHz of spectrum in the 2.3GHz band across high-population markets.
“Optus plans to use this spectrum to build a 4G network using LTE-TDD technology,” the company said.
Optus claims it will soon have the highest capacity 4G network in Australia.
”The successful completion of the Vividwireless deal reinforces our commitment to being a leader in 4G,” said Optus CEO Kevin Russell.