(25-09-2013, 08:23 PM)AlphaQuant Wrote: [ -> ]SINGAPORE (Reuters) - Seven Singapore telecom firms, including M1 Ltd and StarHub Ltd, on Wednesday asked the government to reject Singapore Telecommunication Ltd's proposed acquisition of the firm developing the city-state's next generation broadband network.
NetLink Trust, a trust controlled by SingTel, has proposed acquiring OpenNet, the consortium developing the broadband network, for S$126 million ($100.47 million) in a deal that requires regulatory approval from the Infocomm Development Authority of Singapore.
"If approved, the proposed consolidation would see SingTel becoming the 100 percent beneficial owner of the only other nationwide fixed telecommunications network in Singapore, apart from SingTel's own network," the seven companies said in a joint statement.
"The unprecedented show of solidarity demonstrates the grave concerns the industry has over the competition issues raised by the proposed consolidation, including the potential of discriminatory treatment and a lack of independence," they added.
IMO, the consolidation request will be approved, but the SingTel's original divestment dateline of 2014, will remain the same, or will be extended much early than 2018.
The shareholders of OpenNet agreed to sell for a good reason. The concerns on potential of discriminatory treatment and a lack of independence, can be solved by early divestment of SingTel.
(vested)
There was an article on OpenNet performance, or rather lack of performance, titled "Ultra-fast broadband, ultra-slow service". The info was contributed by Nucleus Connect informally, rather than from IDA.
I'm not able to reproduce it, since I am not a subscriber of ST.
I reproduce key info below. It meant more than 85% business orders were consistently delayed by OpenNet since May, with reasons of "insufficient capacities" and "refusal of grant access to in building fibre links", according to the news article. The very same reasons since 2010
The lacking of success on fiber broadband corporate customer of M1, Starhub and other RSPs, might be largely due to OpenNet, IMO. SingTel was indirectly benefited from it, by retaining most if not all its corporate customers.
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% of business orders that OpenNet delivered on schedule in 2013
Jan: 37.9%
Feb: 32.3%
Mar:31.3%
Apr: 24.5%
May: 14%
Jun: 10.3%
Jul: 12.5%
Aug: 13.3%
There is an interview of Amobee's CEO, Trevor Healy. It sounds quite impressive.
IMO, the company has more synergy with SPH, rather with SingTel.
Optus has another success story with Virgin Australia, worth $60 mil. It is much smaller than ANZ deal of more than $600 mil
Optus and Virgin Australia sign $60m telecommunications agreement
Optus Business today announced a new telecommunications services agreement with leading Australian airline, Virgin Australia, to deliver domestic and international telecommunication services as well as managed services, worth $60 million over five years.
Services will be delivered over Optus’ managed data network with the resilience and scalability required to meet Virgin Australia’s critical quality assurance standards.
...
Reference:
http://infopub.sgx.com/FileOpen/MR-20131...eID=259105
It is one of the exchanges that directly owned by NetLink trust, the subsidiary of SingTel.
SingTel fire: Damage more extensive than originally assessed
SINGAPORE — SingTel said this morning (Oct 10) that it has repaired 30 of the cables damaged in the fire at its Bukit Panjang facility yesterday afternoon that caused massive disruptions to a range of services islandwide, and that it is working hard to restore all its services as soon as possible.
The telco said in a statement this morning that the damage from the blaze, which happened at around 2pm at the Bukit Panjang Exchange, appeared to be more extensive than originally assessed, and that 51 cables in total will need to be repaired.
SingTel had said yesterday that they expected services to be fully restored by 6am.
...
http://www.todayonline.com/singapore/sin...y-assessed
All the damages and compensation will be covered insurance? If this is the case, what kind of financial damages will Singtel be hit?
(10-10-2013, 10:01 PM)NTL Wrote: [ -> ]All the damages and compensation will be covered insurance? If this is the case, what kind of financial damages will Singtel be hit?
I'm think the penalties will be less harsh than the recent M1 incident, since Minister for Communications and Information Dr Yaacob Ibrahim expressed that he is happy with how Singtel handled disruption.