A consortium seeking to be selected as a partner to help Thai state-owned operator TOT deploy a 4G network has pledged to rapidly raise capital if it wins the contract.
TOT last month selected Mobile LTE – a consortium of ICT and oil trading companies – to join a shortlist of three potential partners for the LTE project. The others are mobile incumbent AIS and trading company Loxley Plc.
Siripong Oontornpan, the CEO of Mobile LTE consortium member AIT, told the Bangkok Post that the group plans to immediately start raising its capital from 100 million baht ($3 million) to 2 billion baht if it is selected as TOT's strategic partner.
The network will use TOT's 2.1-GHz spectrum, and its deployment forms part of the struggling operator's plan to turn around its business by transitioning into a network service provider.
Mobile LTE's proposal involves renting out the 15 MHz of 2.1-GHz of spectrum to provide 4G services. It has committed to securing at least 10 million subscribers under a five-year partnership contract.
TOT reportedly plans to select its joint venture partner for the 4G network project by April. The company is close to selecting a global financial advisor to help it evaluate the three proposals.