Telstra, TPG Telecom and Vodafone Hutchinson Australia have reportedly paid one of the world’s highest prices for 5G spectrum, with the Australian Communications and Media Authority (ACMA) raking in over $800 million.

According to The Australian, the ACMA has collected $852 million from the sale of 3.6 GHz band spectrum – widely seen as the optimum band for 5G service deployment.

Telstra reportedly paid $386 million for 143 lots of spectrum, whilst the joint venture TPG-Vodafone snared 131 lots for $263 million.

Optus picked up 47 lots in regional Australia for $185 million, after being excluded from the metropolitan spectrum auction due to its existing large holdings.

UK-based Dense Air also purchased 29 spectrum lots for $18 million.

The final auction price is said to have throttled past the ACMA’s reserve, and is among the highest prices paid for 5G spectrum in the world.

The ACMA reportedly set a reserve price of $185 million for the full 350 lots of 125MHz of spectrum – i.e. 8 cents per megahertz per population.

By contrast, the average price paid by the telcos has notched ~29 cents per megahertz per population.