Is the Telstra (ASX:TLS) share price better value than the TPG (ASX:TPG) share price?

On Friday the Telstra Corporation Ltd (ASX: TLS) share price pushed higher after it announced a $277 million investment in 5G spectrum.

The telco giant expects this investment to further extend its leadership in 5G now and into the future.

Was this a good move by Telstra?

This morning analysts at Goldman Sachs gave their verdict on this investment and the one that rival TPG Telecom Ltd (ASX: TPG) made in the same auction.

In respect to Telstra, Goldman was pleased with its investment, which was broadly in line with its expectations. However, TPG’s investment was smaller than the broker was expecting.

It commented: “TLS secured 1,000MHz (in-line with GSe, auction limit), TPG secured a smaller amount than expected, with 400MHz…