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Telstra (ASX:TLS) & TPG Telecom Ltd reportedly set for 5G mobile bidding war

The battle for telco dominance is yet to come as the 5G spectrum auction looms, but Telstra Corporation Ltd (ASX: TLS) has its finger on the pulse, according to an article in The Australian.

According to the report, JPMorgan analysts expect the Turnbull Government to put a hefty price tag on the valuable asset, with Telstra set to spend up to $700 million at the auction with TPG Telecom Ltd (ASX: TPM) likely to spend as much as $300 million, with Vodafone also in the race.

Telstra shares had a short-lived surge last week on news of its HarbourVest merger and finished up at yesterday’s close at $2.75.

TPG’s share price has been up and down for months, as sector cousin Vocus Group Ltd (ASX: VOC) attempts to hold on to its value with a recent refinancing of its debt facility to create “financial headroom and flexibility”.

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Motley Fool contributor Carin Pickworth owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited, TPG Telecom Limited, and Vocus Communications Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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