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Hot stock: Telcos fall on potential entry of 4th operator

39420426.1 (39421235) - 11_08_2016 - SINGAPORE-TELECOM-SINGTEL-COMPANY-EARNINGS.jpg

SINGAPORE'S telcos fell on Friday after three firms formally submitted their bids to take part in an airwaves auction that could lead to the nation's fourth telco.

By 9.15am, Singtel was down seven cents to S$3.90 or 1.8 per cent; StarHub was down 15 cents to S$3.48, or 4.1 per cent; M1 was down 16 cents to S$2.50, or 6 per cent.

All three were among the top 10 stocks by value traded.

The contenders are newly formed company airYotta Pte Ltd; fibre broadband services provider MyRepublic; and TPG Telecom, a provider of telco services in Australia.