True, Jasmine win US$4.2b Thai 4G services auction

Bangkok

TRUE Corp Pcl and Jasmine International Pcl will pay US$4.2 billion for licences to provide fourth-generation wireless services in Thailand after outbidding larger rivals Advanced Info Service Pcl and Total Access Communication Pcl in an auction in Bangkok that ran for almost four days.

True topped the bidding for the 900MHz spectrum with 76.3 billion baht (S$2.98 billion) and Jasmine's bid was valued at 75.7 billion baht, the regulator said. Total Access had the most to lose because Advanced Info and True won licences to offer 4G services on the 1800MHz spectrum at a similar auction last month.