SMRT may invest in telco licence bidder OMGTEL
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Mindy Tan
SMRT Corporation may invest up to S$34.5 million in OMGTEL, said the transport operator on Wednesday, adding that it has entered into an agreement with OMG to work exclusively with the company on its bid for the fourth wireless telecommunications carrier licence in Singapore.
OMG is a company incorporated in Singapore by Consistel Pte Ltd on Oct 20, 2014 for the purpose of bidding for the telco licence.
SMRT added that its investment is on the condition that OMG wins the fourth telco licence, satisfactory due diligence on OMG, and the execution of definitive agreements between the two companies.
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