Australia TPG Telecom's unit wins bid to become new Singapore telco

SINGAPORE (Reuters) - Singapore's telecommunications regulator said a unit of Australia's TPG Telecom made the winning bid of S$105 million ($73.7 million) in an airwaves auction that would make it the city-state's fourth telecoms operator.

TPG's unit will be provisionally allocated 60 MHz of spectrum made available in the new entrant spectrum auction, the Info-communications Media Development Authority said in a statement.

Singapore currently has three telecommunications network operators - Singapore Telecommunications Ltd, M1 Ltd and StarHub Ltd - and the government has been seeking to increase competition.

The city-state will hold a second phase of the airwaves auction open to the existing players and TPG's unit in the first quarter of 2017, the IMDA said.

 

($1 = 1.4241 Singapore dollars)

(Reporting by Aradhana Aravindan; Editing by Muralikumar Anantharaman)