Telstra Corporation Limited has invested $616 million to secure 2x10MHz in the Australian Communications and Media Authority's 850/900 MHz band auction. This is the maximum amount of `low band' spectrum Telstra was allowed to bid for under the competition limits set by the Government. This is a win for Telstra customers, especially for the people, businesses and communities of regional and rural Australia. "With the 2x10MHz of 850MHz spectrum they secured in this auction, added to our existing spectrum holdings, now hold 2x40MHz of low-band spectrum in the major cities and 2x45MHz in regional and remote areas. "Mobile and wireless broadband are key components of a successful digital economy, and this low band spectrum will help us support Australia's digital economy ambitions which is critical to our nation's pandemic recovery. The spectrum is essential for carrying mobile data, particularly 5G, over the vast distances needed across regional and remote areas and also enables us to provide better coverage indoors and other difficult to reach places in metro locations. Payment for the 20-year licences is not expected until shortly before they commence in mid-2024.