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".
