SINGAPORE (Thomson Financial) - Singapore Telecommunications Ltd said Monday
it has tied up with Singapore Press Holdings, SP Telecom and Axia NetMedia of
Canada to bid for the right to build a new broadband network infrastructure for
the city-state.
SingTel said it and Axia will have 30 percent stake each in the consortium,
while SPH will have 25 percent and SP Telecom will have 15 percent.
The consortium, which will be called OpenNet, has submitted its bid for the
project earlier Monday.
The network is expected to provide its users download speeds of above 1
gigabyte per second when completed, it said.
($1=S$1.36)
pearl.bantillo@thomsonreuters.com
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