China Mobile, HKT win 5G spectrum for $240m

The two have bid for 50MHz of the spectrum in the 4.9GHz band.

Two mobile network operators have successfully bid for 50MHz of 5G spectrum in the 4.9 GHz band for a total amount of $240m, announced the Office of the Communications Authority.

China Mobile Hong Kong Company secured frequency block B1 (4840-4880 MHz) whilst Hong Kong Telecommunications clinched frequency block B2 (4880 - 4920 MHz ). They will pay $120m each, respectively.

"The provisional successful bidders are required to pay the SUFs as specified in the table above and to submit performance bonds to guarantee compliance with the network and service rollout requirement by November 27," the spokesman for OFCA said.

The assignment of the spectrum will take effect in December with a validity period of 15 years.