Australian telecommunications provider TPG has announced its financial results for the first half of FY17, revealing that it is predicting capital expenditure spend of between SG$200 million and SG$300 million for the rollout of its Singaporean mobile network.
The spectrum buy will allow TPG to become the fourth provider in the Singaporean mobile market alongside operators Singtel, Starhub, and M1.
“TPG was the successful bidder in the New Entrant Spectrum Auction in December 2016,” the telco said during its results presentation.
“Recruitment and network planning activities progressing well. Anticipated network rollout capital expenditure: SG$200-300 million.”
TPG added that in the three months since winning the spectrum auction, it has made a “strong start to its mobile network rollout”.
TPG is also currently fighting to become Australia’s fourth mobile telecommunications provider alongside Telstra, Optus, and Vodafone Australia via the acquisition of the remaining 700MHz mobile broadband spectrum during the ACMA’s auction next month.
The spectrum will be auctioned off in two lots: One lot of 2x 10MHz in the 738-748MHz frequency range paired with 793-803MHz; and one lot of 2x 5MHz in the 733-738MHz paired with 788-793MHz, with bids starting at AU$571.8 million and AU$285.9 million, respectively.
TPG has previously denied reports that it is similarly considering entering the New Zealand mobile market via an acquisition of New Zealand’s third-largest mobile telco, 2degrees, however.
During its results presentation, TPG also reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of AU$473.4 million in the half year to January 31, up 8 percent year on year due to growth in…