Australian operator TPG has confirmed it was the winning bidder of the recent New Entrant Spectrum Auction in Singapore. TPG acquired all of the spectrum available at the auction (being 2 lots of 2x5MHz of 900MHz spectrum and 8 lots of 5MHz of 2.3GHz spectrum) for a total purchase price of SGD 105 million, payable within 20 business days. In addition to the cost of the spectrum, TPG expects to invest SGD 200-300 million to establish its mobile network with nationwide coverage by September 2018.
TPG said the payment for the spectrum and the cost of the network rollout will be funded through the group’s existing debt facilities and cash generated from its Australian operations.
TPG expects to start delivering services to customers in 2018 and forecasts that it will become EBITDA positive when it reaches a market share of 5-6 percent in Singapore.
