- Vodafone Group said its Italian unit had acquired spectrum for the deployment of new 5G technology for €2.4bn.

The spectrum would deliver substantial network operating cost efficiencies to meet future growth in data traffic, the telecom giant said.

The company said it was also leading 5G trials promoted by the country's Ministry for Economic Development in Milan, with the aim of transforming the city into the '5G capital of Europe'.

Vodafone said it expected to have already achieved coverage of 80% of Milan and its metropolitan area by December 2018.

'Auctions should be designed to balance fiscal requirements with the need for investment to enable economic development,' chief executive Nick Read said.

"Telecoms is the sector that enables all other sectors to participate in the Gigabit society.'

'It is critical that European governments avoid artificial auction constructs which fail to strike a healthy balance for the industry.' Story provided by