True Move H Universal Communication Company (TUC), a subsidiary of True Corporation, has announced that TUC has completely fulfilled the conditions precedent within 90 days from the date of being notified by the National Broadcasting and Telecommunications Commission (NBTC) as being the winning bidder in the 900 MHz spectrum tender. Consequently, NBTC has issued and granted TUC the 900 MHz IMT spectrum license and the Type Three Telecommunication Business License.
True Move H was a winning bidder in the auction of the 900 MHz IMT spectrum license for spectrum bandwidth covering 905-915 MHz pairing to 950-960 MHz TUC was required to fulfill the conditions precedent within 90 days from the date of being notified by NBTC as being the winning bidder. Specifically, TUC was required to pay the first installment of the 900 MHz IMT spectrum license auction fee and to submit letters of guarantee from a financial institution for the second, third and fourth installments of the 900 MHz IMT Spectrum License auction fee.
