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Two Singapore firms formally express interest in becoming country's fourth telco
[SINGAPORE] Two firms have formally submitted their expressions of interest to the Singapore telecommunications regulator to participate in an airwaves auction later this year that could usher in a fourth telecom operator in the city-state.
Singapore currently has three telecom operators - Singapore Telecommunications Ltd, M1 Ltd and StarHub Ltd - and the government has been seeking to increase competition.
Newly formed company airYotta Pte Ltd and fibre broadband services provider MyRepublic have submitted their interest, the firms said in separate statements on Thursday.
MyRepublic has previously said it was working with investors to raise about S$250 million.
The company did not specify on Thursday how much it has raised, but said it has attracted a new investor, and that existing investors have reinvested.
Singapore plans to auction telecom spectrum in two stages this year. The first for the potential newcomers will be held ahead of a general one for the incumbents and any new player which emerges.
Thursday was the deadline for the newcomers to submit their expressions of interest.