In an effort to address its economic crisis and bolster foreign currency reserves, the Argentine government has announced plans to launch a 5G spectrum auction on October 24, with the goal of generating approximately $1.05 billion in revenue.
The government’s move comes amid a dire economic situation, marked by a sharp depreciation of the country’s peso currency and dwindling reserves at the central bank. Seeking to attract foreign investment and stimulate economic growth, Argentina is turning to the advancement of its telecommunications infrastructure through the implementation of 5G technology, Reuters news report indicated.
Three leading provider companies have already qualified as bidders for operating the frequency bands, which span from 3,300 MHz to 3,600 MHz. A total of 300 MHz will be offered in three lots of 100 MHz each, according to a statement released by Argentina’s economy ministry.
“The deployment of 5G is viewed as a crucial medium- and long-term state policy,” emphasized the government, underscoring the need for collaboration between the public and private sectors to modernize network infrastructure in line with this policy.
As the auction date approaches, the government is hopeful that the 5G spectrum auction will not only provide the much-needed financial injection but also lay the foundation for enhanced connectivity and technological advancement in the country.
In the telecommunications sector, as of the fourth quarter of 2022, Claro, a mobile phone company owned by America Móvil, secured the highest market share with 40 percent of all wireless subscriptions in Argentina. Following closely were Telecom Argentina’s Personal and Telefonica’s Movistar, with 34 and 27 percent of the market share, respectively.
