October 19, 2021

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Altibox buys 5G frequencies for 724 million - E24

Altibox buys 5G frequencies for 724 million – E24

Altibox is investing heavily in wireless broadband over 5G. The company will pay NOK 724 million for these frequencies over the next 20 years.

CEO Tor Morten Osmundsen and Chairman Toril Nag at Altibox are looking to expand the business with 5G services.

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Altibox has purchased 5G frequencies to extend wireless broadband to people who live in places without cable broadband.

To date, Altibox has provided the Internet through fiber-optic cables, and currently the company connects 740 thousand homes in Norway. But now high-quality broadband will be offered to those who cannot be reached with cable.

Three more

5G frequencies are being auctioned by the National Communications Authority (Nkom), and the auction took place with four participants this week. In total, the frequencies were sold for 3,892,612,000 NOK. The manager of Pål Vien Espen from Nkom is Very happy with the result.

At the auction, Altibox bought 100MHz (in the 3.6GHz band) for NOK 724 million. Telia also bought 100MHz, Telenor bought 120MHz and Ice bought 80MHz.

– The frequencies are national and enable us to offer high-speed wireless broadband to more people. This is the first time we have invested in such an offering, says Andreas Vigeland, Director of Communications at Altibox owner Lycee.

Tor Morten Osmundsen, CEO of Altibox, does not want to say how much the company will invest in wireless broadband development next year, or where development will begin in Norway.

Altibox has so far focused only on fiber optic cables. Now the company will also go wireless in the new 5G network.

Want to reach more

Our long-term work to expand the national fiber network constitutes a strong starting point for expanding the business to also include 5G-based solutions. We want to reach more customers with our offering, and 5G frequencies are a natural extension of our position in the infrastructure,” Altibox Chairman Toril Nag says in a press release.

Almost tripled

The auction resulted in the state receiving nearly three times as much as it was set on 5G frequencies from the minimum price.

The four players went through 33 bidding rounds, so the price went from NOK 1.4 billion to NOK 3.9 billion.

The authorities have given a certain discount to companies doing development in the regions. The total rebate was NOK 480 million, and it went to Telia, Telenor and Altibox.

important boost

According to Nkom, it is very important to strengthen Norway’s mobile networks.

– The auction is an important step in achieving the government’s goal of fast broadband for all households and businesses across Norway by 2025. Prior to the auction, Nkom was clear that we wanted at least four players who could fight in the auction for national network resources. The result could lead to tougher competition that challenges Telenor and Telia in the mobile market, and increases competition for fixed wireless broadband, to the benefit of end customers, Nkom’s Director Pål Vien Espen says in a press release.

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