By Adria Calatayud 
 

Vodafone Group PLC (VOD.LN) said Wednesday that it will pay 198.1 million euros ($231.7 million) to acquire a mobile-data services spectrum in Spain that the company will use to deploy 5G services.

The London-based telecommunications company said it has acquired 90 megahertz of contiguous spectrum in the 3,700 MHz band for a 20-year term at an auction by Spain's economics ministry. The fee will be paid in 20 equal annual installments at a 2.35% interest rate, Vodafone said.

The company said the spectrum will be enable it to enhance applications including connected vehicles and robotics, industrial automated systems, as well as virtual and augmented reality.

Earlier this year, Vodafone was awarded 5G spectrum in the U.K.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

July 25, 2018 10:56 ET (14:56 GMT)

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