Consistel said to pull ahead in Singapore telco bid
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Singapore’s Consistel is reportedly pulling ahead of MyRepublic in the race to secure funding to make a play to become the market’s fourth mobile operator.
Consistel has so far lined up at least S$400 million ($293.8 million) worth of the S$1 billion in funding it plans to raise ahead of a planned spectrum auction in the third quarter, and expects to be able to raise the remainder by the end of the month, citing a Maybank analyst.
Consistel is reportedly considering a range of funding options, including term loans, equity, and potentially vendor financing.
By contrast, MyRepublic had aimed to complete an S$250 million funding round by April, but has so far not reported any progress with this goal.
Consistel is a wireless networking equipment provider specializing in distributed antenna systems (DAS). The company first expressed an interest in becoming Singapore’s fourth MNO – through subsidiary OMGtel – in 2014, not long after MyRepublic announced its MNO ambitions.
Regulator IDA plans to hold an auction to select Singapore’s fourth mobile operator in the third quarter, with a reserve price of around S$35 million. A dedicated auction for the potential new market entrants will be held ahead of a general auction open to all takers.
Questions & Answers
Q.What is Consistel's current funding position for its bid to become Singapore's fourth mobile operator?
What is Consistel's current funding position for its bid to become Singapore's fourth mobile operator?
Consistel has secured at least S$400 million ($293.8 million) of the S$1 billion funding it plans to raise. They expect to raise the remaining amount by the end of the month, according to a Maybank analyst.
Q.How does MyRepublic's funding progress compare to Consistel's in this process?
How does MyRepublic's funding progress compare to Consistel's in this process?
MyRepublic aimed to complete an S$250 million funding round by April. However, the article states they have not yet reported any progress towards achieving this funding goal.
Q.What is Consistel's primary business activity as mentioned in the article?
What is Consistel's primary business activity as mentioned in the article?
Consistel is described as a wireless networking equipment provider. Their specialisation is in distributed antenna systems (DAS), which suggests their existing expertise is relevant to network infrastructure.
Q.When is the spectrum auction planned to take place, and what is its purpose?
When is the spectrum auction planned to take place, and what is its purpose?
The regulator IDA plans to hold the spectrum auction in the third quarter of the year. Its purpose is to select Singapore's fourth mobile operator, with a reserve price of around S$35 million.