Singapore, 11 April 2001 | For Immediate Release
Three Third Generation (3G) Spectrum Rights have been provisionally awarded today to each of the three eligible bidders who submitted Initial Offers1 to the Infocomm Development Authority of Singapore (IDA). In accordance with the auction rules, as no more than one Initial Offer was made in respect of each 3G Spectrum Right, the 3G Spectrum Rights auction will not proceed. Each Spectrum Right will be awarded at the reserve price of S$100 million.
The three eligible bidders provisionally awarded the 3G Spectrum Right of their choice as indicated in their respective Offers are:
(a) MobileOne (Asia) Pte Ltd; (b) Singapore Telecom Mobile Pte Ltd; and (c) StarHub Mobile Pte Ltd.
The three eligible bidders are each required to make payment of $100 million to IDA by 23 April 2001. After receipt of payment, each eligible bidder will then be granted the relevant 3G Spectrum Right.
More information on the 3G Spectrum Rights auction is posted under the heading "3G in Singapore" on the IDA website (www.ida.gov.sg ).
ISSUED BY CORPORATE COMMUNICATION DIVISION
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
1 The Initial Offers confirm the bidders' commitment to participate in the auction, including the specific 3G Spectrum Right each bidder is interested to obtain.
Dulcie Chan
Senior Manager, Corporate Communication
Infocomm Development Authority of Singapore
Tel: +65 6211 1999
Fax: +65 6211 2227
Email: dulcie_chan@ida.gov.sg