SINGAPORE (Sept 5): Analysts from Maybank Kim Eng and Citi Research agree that the risk of a new market telco entrant has significantly spiked – although in Nomura’s view, it is still too early to take a specific stance on the spectrum’s results.

Citi has raised its probability of a new entrant from 25% to 85% and expects a fourth player would be able to take 7.5% of the sector’s market share by FY21.

Maybank has downgraded its previously “neutral” view on the telco sector to an outright “negative” one, noting that the surprise appearance of “three – not two, or even zero potential bidders as was the possibility earlier”.

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