Investment banks seek role in Singapore

Twelve companies and consortia are bidding on Singapore’s proposed nationwide broadband network. But what’s most interesting about this project is the role of private investment firms. Singapore’s telecommunications regulatory authority is talking to 12 companies and consortiums as “pre-qualified” bidders on the country’s proposed nationwide broadband network.

In Singapore, two investment banks, including New York’s CitiGroup and Australia’s Babcock & Brown are hedging their bets participating in two consortia. Babcock is participating in one led by SingTel that includes Cisco Systems and another led by Alcatel-Lucent.

The Infocomm Development Authority announced it would use the discussions to gather feedback on the plan before a tender is opened in August. The successful bidder is expected to be announced by the end of the year.

The authority wants 95 percent of the island’s businesses and homes connected by 2012 at speeds of 1 Gbps or faster. The authority expects to use wireless for Internet access in public places.

Click here to read the Cellular News report.