TPG has increased its spectrum holdings in Singapore, the
telco announced today.
In a statement released today to the ASX, TPG said it had successfully bid for 2x5MHz spectrum in the 2.5GHz band. The company will pay S$23.8 million, it said.
TPG in December revealed it would pay S$105 million ($99 million) for two lots of 2x5MHz in the 900MHz band and eight lots of 5MHz in the 2.3GHz band, after it lodged a successful bid in Singapore’s New Entrant Spectrum Auction.
The telco has plans to set up a mobile network in Singapore by September 2018 – an endeavour it expects to cost around S$200 million to S$300 million.
In last year’s auction, TPG was only up against My Republic. The successful bid this month was lodged as part of Singapore’s General Spectrum Auction. The auction concluded this week.
“We were very satisfied with the allocation obtain in the New Entrant Spectrum Auction and are now very pleased to have successfully taken the opportunity to add to our portfolio of spectrum assets in Singapore,” TPG’s CEO, David Teoh, said in a statement.
“The additional 10MHz of spectrum will enable us to further enhance the value of the services we plan to offer to Singapore consumers.”
TPG also has significant spectrum holdings in Australia.
TPG last year picked up spectrum in the 1800MHz bad. In the 2013 Digital Dividend auction, TPG obtained spectrum in the 2.5GHz band. The company is also keen to pick up spectrum in the coveted 700MHz band.