Vodafone is the UK mobile broadband provider with the most valuable 3G and 4G spectrum, a new study has found.
The service provider - which recently spent over £800 million purchasing spectrum in the 800MHz and 2.6GHz frequency bands - now has a portfolio worth over £2 billion.
According to Analysys Mason, which conducted the study, Vodafone edged EE into second place and O2 into third based upon the value of spectrum.
This is despite EE owning the most mobile spectrum in terms of raw megahertz.
Analysys Mason claimed the current value of 3G and 4G spectrum in the UK is approximately £6.9 billion.
"This is much less than the £22.5 billion originally paid for the 2,100MHz and 1,900MHz spectrum in 2000," the firm stated.
"But it is also worth noting that it is less than 25 per cent of the economic welfare benefit derived from the use of mobile spectrum."