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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Telekom AG    DTE   DE0005557508

DEUTSCHE TELEKOM AG

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German 5G Auction Ends With Companies Pledging EUR6.5 Billion for Spectrum

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06/13/2019 | 07:00am EDT

By Patrick Costello

--Germany's 5G spectrum auction ended late Wednesday with telecom companies pledging over EUR6.5 billion for frequencies

--Deutsche Telekom spent more than its peers for spectrum

--The auction costs exceeded companies' and analysts' initial expectations

Germany's 5G spectrum auction ended late Wednesday with the country's main telecoms operators pledging to pay over 6.5 billion euros ($7.36 billion) for frequencies on the 5G mobile spectrum.

Deutsche Telekom AG, Telefonica Deutschland AG (O2D.XE), Vodafone Germany and 1&1 Drillisch AG (DRI.XE) pledged a total of EUR6.55 billion in 497 rounds of bidding for licenses to 41 blocks of spectrum, said the Federal Network Agency, Germany's telecoms regulator and the auction organizer.

The auction kicked off on March 19 and lasted nearly three months, ending last night only when operators ceased submitting new bids. Companies bid for frequencies to build up 5G networks that will be used by consumers and industry.

Deutsche Telekom outspent its rivals, securing 13 blocks of frequencies for EUR2.17 billion. Vodafone Germany spent EUR1.88 billion on 12 frequency blocks, while Telefonica Deutschland spent EUR1.42 billion on nine frequency blocks.

1&1 Drillisch pledged EUR1.07 billion for seven frequency blocks. The company is aiming to become Germany's fourth mobile network operator having now won spectrum.

Still, companies criticized that the final costs for 5G spectrum were too high, saying this deprives them of funds to build up their next-generation mobile networks.

"Once again, the spectrum in Germany is much more expensive than in other countries," Deutsche Telekom board member Dirk Woessner said. "Network operators now lack the money to expand their networks."

Analysts likewise said the auction costs exceeded initial expectations and came in too high.

"The high cost at which the German 5G spectrum auction settled is a setback for the industry," Jefferies said, calling the auction an "unexpectedly drawn-out process."

Deutsche Bank's Nizla Naizer said the final price tag came in EUR1.5 billion ahead of the bank's initial estimate of EUR5 billion, adding that "all eyes" would now turn to 1&1's plans for rolling out its new network.

Write to Patrick Costello at patrick.costello@dowjones.com.

Stocks mentioned in the article
ChangeLast1st jan.
1&1 DRILLISCH -0.34% 23.36 Delayed Quote.2.45%
5G NETWORKS LIMITED 10.06% 1.915 End-of-day quote.155.33%
DEUTSCHE TELEKOM AG -0.34% 14.565 Delayed Quote.-0.71%
DEUTSCHE TELEKOM AG -0.24% 14.565 Delayed Quote.0.21%
TELEFONICA DEUTSCHLAND HOLDING AG -3.21% 2.295 Delayed Quote.-8.24%
VODAFONE GROUP PLC -0.49% 117.2 Delayed Quote.-19.75%
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Financials
Sales 2020 94 228 M 112 B 112 B
Net income 2020 4 283 M 5 081 M 5 081 M
Net Debt 2020 113 B 134 B 134 B
P/E ratio 2020 15,5x
Yield 2020 4,23%
Capitalization 69 081 M 82 220 M 81 949 M
EV / Sales 2020 1,93x
EV / Sales 2021 1,84x
Nbr of Employees 206 443
Free-Float 67,7%
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Number of Analysts 26
Average target price 17,43 €
Last Close Price 14,57 €
Spread / Highest target 43,5%
Spread / Average Target 19,6%
Spread / Lowest Target 2,99%
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Timotheus Höttges Chief Executive Officer
Ulrich Lehner Chairman-Supervisory Board
Christian P. Illek Chief Financial Officer
Claudia Nemat Head-Technology & Innovation
Lothar Schröder Vice Chairman-Supervisory Board
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