Telcos: iDA auction rules are out
- iDA issued auction rules and confirmed that pre-qualification of o4th entrant will happen in 3Q16.
- Auction will be conducted in a series of ascending bids for both new entrant and the rest.
- Incumbents guaranteed one lot of 900MHz
- With funding on track for both MyRepublic and Consistel, 4th telco is definately coming, in CLSA's opinion.
- Sell on M1 (TP: $2.34) and StarHub (TP: $3.10) due to pure SG exposure, Buy on Singtel (TP: $4.27).
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