SMRT jumps on telco ambitions
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Singapore
SHARES of SMRT Corporation surged on Thursday after the train operator suggested it may expand into the telecommunications business by partnering a contender for Singapore's fourth wireless telecommunications carrier licence.
SMRT on Wednesday said it may invest up to S$34.5 million in OMGTEL, which is bidding for the telco licence. It has entered into an agreement with OMG - run by wireless systems installer Consistel - to work exclusively with OMG on the bid.
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