Three is understood to be planning to create an ultrafast wireless broadband network across major British cities.
According to the Telegraph, the company wants to give around 40 per cent of the population access to new fixed wireless broadband in the next three years.
The newspaper states that this investment in 5G technology would form part of a wider effort to convince households to move away from fixed-line internet connections.
Three would use the high-frequency radio spectrum it will acquire once its takeover of UK Broadband has been completed.
Existing mobile masts in Britain's major cities would be used to provide signals on the new frequencies.
Sources indicate that consumers will be encouraged to purchase all-in-one connectivity packages that provide coverage both at home and outside.
The Telegraph notes that trials using the same frequencies have already been carried out in other parts of the world and offered speeds of up to 1Gbps - comparable to what is offered by the fastest fixed-line broadband services in the UK.