(Image: Unsplash/Al Hakiim)

Local telecom carriers have just splurged $835m on auctions for spectrum that will carry 5G mobile technology. That’s a nice little earner for the government’s bottom line although it fell a little short of some expectations of $1 billion.

That’s mainly because regulators were more focused on competitive outcomes rather than pure price maximisation. But the average price paid by the telcos is reportedly one of the highest prices paid for 5G spectrum in the world.