TPG loses Singapore 5G bid
TPG Telecom will not roll out a 5G network in Singapore after failing to secure a licence from the local communications authority.
The company said in an ASX statement on Thursday that it would not be allocated the 3.5 gigahertz mobile spectrum required to roll out a 5G network, with Singapore’s Infocomm Media Development Authority (IMDA) awarding the licenses to rivals Singtel and joint bidders StarHub and M1.
However TPG, which first announced its plan to build a mobile network in Singapore in late 2016, said it will look at other ways to deliver 5G to its customers in Singapore.
“The IMDA has put in place requirements for the supply of services by successful parties to unsuccessful respondents and TPG Singapore expects to look at all options for the delivery of 5G services to TPG customers in the future,” the statement said.
The IMDA said Singapore will have two nationwide 5G networks by 2025, but that three proposals had been put forward in the bidding process. IMDA chief executive Tan Kiat How said the winners were selected based on a “comprehensive assessment”.
“The on-going COVID-19 situation underscores the criticality of a robust digital infrastructure and the importance of timely investments to meet our national connectivity needs. The 5G award is a major milestone,” Mr Tan said. “We received three compelling proposals that met and in some cases, exceeded our requirements.”
Locally TPG is proceeding with plans for its $15 billion merger with Vodafone Hutchison Australia. The two companies are expected to complete the transaction by July, despite the disruption caused by the COVID-19 pandemic.
TPG and Vodafone are waiting on approval from the Foreign Investment Review Board. TPG shareholders will then be asked to vote on the deal. TPG’s Singapore operations will not be included in the deal.
Zoe Samios is a media and telecommunications reporter at The Sydney Morning Herald and The Age.
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Source: Thanks smh.com