Hutchtel HK (00215) announced that its wholly-owned subsidiary, hutchtel, successfully bid for Assignment A Band and Assignment B Band, and was declared by the Communications Authority as the provisional successful bidder for the respective assigned spectrum on November 20, 2024. Following compliance with multiple award stage procedures, hutchtel will subsequently become the successful bidder for the assigned spectrum.
Acquiring the assigned spectrum will enable hutchtel to continue providing public mobile telecommunications services (including 5G services) in Hong Kong within the 15-year period of the assigned spectrum license term. Hutchtel is required to pay a total spectrum utilization fee and an estimated annual license fee of approximately 0.637 billion Hong Kong dollars for the relevant assigned spectrum to the Communications Authority.
The assigned A frequency band spectrum and part of the assigned B frequency band spectrum held by Hutchison Telephone can provide 4G and 5G mobile telecommunication services. For Hutchison Telephone, the assigned spectrum is a prerequisite for continuously utilizing 5G technology to provide excellent services to customers. The long-term development of 5G technology requires different frequency bands to complement each other, and fully utilizing the advantages of each frequency band will help Hutchison Telephone meet various demands for 5G applications, all in the best interest of the company's development, and provide a smooth 5G experience for consumers and business clients.
