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Incumbents' stocks tumble on 4th telco bids

Citi analysts say that chances of another player emerging now very high

Published Fri, Sep 2, 2016 · 09:50 PM
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Singapore

SINGAPORE'S three incumbent telcos took a hammering in the stock market on Friday after three other companies expressed their interest to bid at an upcoming airwave auction to become Singapore's fourth telco.

The three new challengers are local fibre broadband operator MyRepublic, Australian telco TPG Telecom and a newly-minted firm called airYotta, helmed by former executives of OMGTel, which had been interested to become the fourth telco.

Singtel, the largest of the incumbents with the bulk of its revenue from abroad, fell the …

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