CSL’s participated in the March 2011 spectrum auction in an opportunistic way, knowing that it would retain its leadership given the significant amounts of spectrum it already owned no matter what the outcome of the auction could be. CSL withdrew from the auction when it was clear that bids were destroying value.
Tarek Robbiati, Group Managing Director of Telstra International Group and Chairman of CSL said “In this industry the investment required for fourth generation LTE networks includes spectrum and network capital expenditure. At these price levels paid for spectrum, something has got to give: the pyrrhic winners of the March 2011 auction will have to compromise on their LTE network investment or run the risk to destroy value for their shareholders”.
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