MPs: Everything Everywhere should invest money in broadband MPs have advised mobile phone provider Everything Everywhere that the money it makes from selling off its spectrum space should be re-invested into broadband rather than benefitting the company.
Reacting to the news that Everything Everywhere, a merger of Orange and T-Mobile, will receive up to £450 million for just one-quarter of its spectrum, MPs have urged the group to invest into broadband roll-out, the Telegraph reports.The telecoms group, along with others, was given the go-ahead by Ofcom earlier this week to trade its radio spectrum for the first time.Both French and German governments have a share in Everything Everywhere, and the group received its spectrum from the UK government in the 1980s to help it compete with mobile phone providers O2 and Vodafone.According to the news provider, Tom Watson, a member of the Culture, Media and Sport Select Committee, pointed out that while foreign governments will benefit from the money made, British taxpayers will not.Shadow digital economy minister Ian Lucas has suggested the cash could be used to make up for the shortfall in rural super-fast broadband funding, which was announced by Culture Secretary Jeremy Hunt recently.Mr Hunt said that the £530 million shortfall would need to be made up by local authorities, private companies and Europe.
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