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SMRT jumps on telco ambitions

Published Thu, Apr 16, 2015 · 09:50 PM

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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