Vodafone's Turkish subsidiary will pay $627 million for new 5G spectrum following a government auction, the British telecommunications company said Thursday.
Vodafone Türkiye acquired 100 megahertz of spectrum and expects to launch 5G services during 2026, according to the company.
The spectrum license will be available from April 2026 and is valid for nearly 17 years, expiring at the end of 2042.
The company said it will pay the total cost in three interest-free installments, with the first $209 million payment due in January 2026.
As part of the arrangement, renewal terms for existing spectrum licenses were also agreed upon, which the company said would provide greater long-term certainty.
The investment comes as Vodafone continues a broad corporate overhaul under Chief Executive Margherita Della Valle, which has recently included acquiring assets in Romania and restructuring its debt portfolio.
More from this issuer
Related coverage
Vodafone reported higher first-half revenue and profit, raised its full-year outlook, and announced a new dividend policy, citing momentum from its ongoing corporate transformation.
Vodafone and its partner AST SpaceMobile will establish their main European satellite operations center in Germany to manage a new satellite network, the companies said Friday.
Vodafone said Thursday it has agreed to acquire German cloud-services specialist Skaylink for 175 million euros, bolstering its digital offerings for business customers as part of a wider corporate overhaul.
Vodafone said Wednesday it has completed the acquisition of Telekom Romania Mobile Communications' post-paid customer business, the latest move in a wider corporate restructuring at the British telecommunications company.