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Deutsche Telekom says customers, operators to pay price for 5G auction

Deutsche Telekom says customers, operators to pay price for 5G auction

Timotheus Hoettges, CEO of Deutsche Telekom AG, stands in front of a regular GSM antenna equipped with 5G technology of multi-national network infrastructure provider Commscope during the company's annual shareholder meeting in Bonn, Germany March 28, 2019.

BERLIN (Reuters) - The CEO of Deutsche Telekom criticized the amount companies will have to pay to get fifth generation mobile internet spectrum in Germany as the amount of total bids approached 5 billion euros ($5.6 billion) on Wednesday.

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“This money is taken away from the customers, citizens and operators,” Timotheus Hoettges said at a conference in Berlin.

“You can only spend the euro once,” he said, adding that 4.6 billion euros equal 23,000 mobile sites that the industry cannot build.

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