An announcement was made yesterday that TPG is the confirmed 4th telco operator in Singapore. It made a winning bid of $105 million for the spectrum on offer and was 3x the preferential reserve price of $35 million.
TPG will be allocated 2 x 10MHz in the 900 MHz and 40 MHz in the 2.3GHz spectrum bands, with the new spectrum rights to commence from April 2017 onwards. TPG has a stronghold base in Australia so I believe funding capex will not be an issue for them.
Such news meant that there was going to be short term volatility in terms of the share price of telcos, which in fact is not at all new to us. I took this chance to add onto my second batch of M1 by accumulating 5,000 shares at a price of $1.97. On top of the existing shares I had, I had ...