OMGTel, a company vying to become Singapore's fourth mobile operator, has lined up a potential multi-million dollar investment from public transport operator SMRT.
SMRT has entered an agreement with OMGTel's parent company, technology group Consistel, to collaborate on OMGTel's bid for Singapore's fourth telecom license.
In a stock exchange announcement, SMRT said the companies will work to explore synergies that can be derived from SMRT's vast media presence and commuter reach.
SMRT also revealed it has an option invest up to S$34.5 million ($25.5 million) in OMGTel should the company secure the license.
The investment will also be contingent on conditions including due diligence and the execution of definitive arrangements between the two companies.
In an interview with Channel News Asia, Consistel chairman Masoud Bassiri said OMGTel won't be content to become Singapore's fourth largest operator by market share. The operator will aim for at least third place.
Should it secure a license OMGTel aims to roll out a new mobile network that would eventually cost up to S$1 billion, and hopes to have it operational within 12 months.
But OMGTel will have competition for the fourth license, with ISP MyRepublic already throwing its hat into the ring.