Thailand: Jasmine, True Corp bid $4.2b to win marathon 4G auction on 900MHz

True Move H's 4G promotion banner

Jasmine International Plc (JAS) and True Corp won Thailand’s auction of two fourth-generation telecom licences on the 900MHz spectrum, ending an 87-hour-long battle.

The auction was over at 12.15 am on the fifth day with the final prices of the two licences of 151.95 billion baht ($4.2 billion).

On the 199th auction round, the first licence received no bid and the latest price was 75.654 billion baht. In the same round, no bidder submitted a bid for the second licence, which made the price stand at 76.298 billion baht.

Kicked off on Monday, four bidders participated in the auction – Advanced Wireless Network (AWN) of Advanced Info Service (AIS), True Move H Universal Communication of True Corp, DTAC TriNet of Total Access Communication (DTAC), and Jas Mobile Broadband of JAS.

Once the auction ended, Advanced Info Service issued the statement saying that the bidding price had been escalated over the ‘appropriate’ price. “This is not the last 4G bidding. We have planned to join other upcoming 4G biddings. We insist that we can manage the 4G service to meet customers’ demand and remain highly competitive with other companies,” it stated.

AWN and True Move H won the 4G licences on the 1800MHz spectrum last month.

All the four bidders faced falling share prices on Friday as the bid prices escalated. DTAC’s share price fell 10 per cent, dragging down its market capitalisation to 90 billion baht.

The market leader AIS’s share price was down 3 per cent, but its market capitalisation remained 573.8 billion baht.

True Corp’s share price also dropped 1.36 per cent, while its market capitalisation stood at 178 billion baht.

The share price of JAS unchanged at 4.78 billion baht as same as the market capitalisation stayed 34.1 billion baht.

Also Read:

Thai telecoms shares slip as 4G bids cross $2b mark in second auction

Thailand mobile operator Advanced Info Service to invest $405m in 4G network

Thailand’s 4G auction raises $2.25b from True Corp, AIS group cos

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.