The auction for two 4G licences continued Thursday, more than a day after bidding opened. Shares in Thai telecom firms fell on concerns that the licences may be overpriced.
Telecom shares sag as sky-high 4G bidding continues
The auction for two 4G licences continued Thursday, more than a day after bidding opened.
As of 11am Thursday, total bids for the two licences stood at over 74 billion baht in 74 rounds of fierce bidding by four mobile operators.. The per-licence bids stood at 37.006 billion baht and 37.404.
The bids were more than double the estimated value of the bandwidth, according to data from the regulator. The base price for each licence was of 15.91 billion baht.
Shares in Thai telecom firms fell on concerns that the licences may be overpriced.
As of 11.18am, Advanced Information Systems shares on the Stock Exchange of Thailand stood at 217 baht, down 4%. True Corp. was 9.55 baht, down 4.5%; Total Access Communications (DTAC) at 58.75 baht, down3.7%; and Jasmine Internet at 5.25 baht, down 4.6%.
The National Broadcasting and Telecommunications Commission planned a three-hour break in the auction after the 74th round of bidding.
The auction is seen as a do-or-die game for the existing big three mobile operators, which could lose opportunities to others if they declined to take part in the bidding.