Europe Needs $355 Billion For 5G Rollout In 27-country Bloc Plan

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Europe Needs $355 Billion For 5G Rollout In 27-country Bloc Plan

Europe is predicted to invest 300 billion euros ($355 billion) into its telecoms infrastructure by 2025 if it wants to implement the fast internet connection speed 5G network across the 27-country bloc to boost economic growth and tap the potential of the technology, a report said on Thursday.

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A lot of trusts placed on the study by consulting firm BCG including telecoms lobbying group ETNO and the European Union, it is believed that 5G will be the best solution to tackle the recession after the Covid-19 and take the lead in internet-connected devices.

However, in fact, EU telecoms operators are slow to invest in 5G networks, which are essential for smart factories and self-driving cars, due to the massive outlay. Moreover, they said that expansion via mergers to take on these costly projects that have been prevented by tough EU antitrust rules.

According to the report, it will need 150 billion euros to achieve a full-5G scenario in Europe, while to finish upgrading fixed infrastructure to gigabit speeds, it also requires an additional 150 billion.

Delays in auctioning of 5G spectrum airwaves necessary for operators to start commercial 5G service because governments change their focus to counter the pandemic that has also disappointed the industry.

The study also proposed several solutions that governments and regulators could conduct to speed up the telecoms industry.

"One such step is pursuing new ownership models involving voluntary infrastructure sharing, which can allow faster roll-out, reduced overall environmental impact, and increased knowledge transfer among partners," it said.

Loosening rules to permit telecoms providers to cooperate and co-investor to split infrastructure construction from telecommunications services businesses were also some of the suggestions.

The study also allowed operators to monetize data traffic on their networks to keep up with big rivals such as Google, Facebook, Microsoft, and other tech giants.

($1 = 0.8455 euros)

(Reporting by Foo Yun Chee. Editing by Mark Potter)

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