Two mobile network operators have successfully bid for the 5G spectrum in the 4.9 GHz band, with total spectrum utilisation fees of $240 million, the Office of the Communications Authority announced today.

The operators are China Mobile Hong Kong Company and Hong Kong Telecommunications.

They are required to pay the spectrum utilisation fees and to submit performance bonds to guarantee compliance with the network and service rollout requirement by November 27.

The assignment of the spectrum will take effect in December, and be valid for a period of 15 years.

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