Looks like MyRepublic won’t be the fourth telco in Singapore, after losing the bidding race for the local spectrum to Australia-based telco giant TPG Telecom.
The homegrown broadband company had earlier promised ultra-affordable data-based plans as low as $8 per month for 2GB of data and unlimited data for $80 per month if they were to win the bid.'We believe that a new entrant must achieve a much higher market share to survive and be successful' - MyRepublicClick To Tweet
MyRepublic called it quits after the bid went above $102.5 million, citing later bidding beyond that would create a risk that wouldn’t make sense for the internet company. They further assured customers and fans that the company will continue to innovate in the fixed broadband business despite not being able to become Singapore’s fourth telco.
TPG Telecom is expected to start delivering mobile network services as early as 2018. Analysts predict the new telco to introduce lower mobile subscription fares and new services to shake up the market.