The telco showdown has begun

SINGAPORE (Sept 2): Analysts have begun to price in the real possibility of a fourth telco entering the Singapore market after MyRepublic, AirYotta and TPG Telecom submitted their applications to the Infocomm Development Authority (IDA) on Thursday to bid for the fourth mobile operator licence in the New Entrant Spectrum Auction (NESA) in October.

(See MyRepublic, TPG Telecom and AirYotta in race for fourth telco licence)

Over the past three months, speculation that the potential bidders might fail to raise the required funding have pushed the share prices of Singtel, StarHub and M1 up by 4% to 11%. But news of the applications is already negatively impacting stocks of the three telcos with shares of SingTel, M1 and StarHub trending lower although submission of the Expression of Interest documents is no guarantee of the parties’ eligibility to bid.

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