TPG loses 5G Singapore bid

TPG Telecom will continue to explore opportunities for 5G despite failing in its bid to snatch a key 5G licence in Singapore.

TPG Telecom will continue to explore opportunities for 5G despite failing in its bid to snatch a key 5G licence in Singapore.

The company had sought to be one of Singapore’s two main 5G carriers however The Infocomm Media Development Authority (IMDA) announced the winning bids to other vendors.

Singtel and a joint venture consortium formed by StarHub and M1 Limited will be given radio frequency spectrum to deploy nationwide 5G network, the IMDA said in a statement.

Richard Tan, acting CEO of TPG Singapore, said the company respected the IMDA’s decision.

“TPG believes in bringing benefits, value and simplicity to the Singapore market and we are committed to the long term development of the industry,” he said in a statement.

“Moving forward, we will continue to explore all options for the potential delivery of 5G services in the future."

The IMDA said that by 2025, Singapore would have two nationwide networks with full-fledged 5G capabilities that would spur innovation and create opportunities.

IMDA chief executive Tan Kiat How revealed that the organisation had received three proposals for the two 5G licences.

TPG Telecom said TPG Singapore expected to look at all options for the delivery of 5G services to TPG customers in the future. That suggests the company might seek an arrangement with one of the successful bidders.

5G is proving an elusive target for TPG. In Australia TPG ditched its plan to roll out 5G eafter Huawei was banned from supplying 5G equipment here.

TPG shares dropped from $7.51 at 4pm yesterday to $7.35 at 10.30am this morning before marginally recovering to $7.40 after lunch.