Wireless broadband operator Zapp, a subsidiary of conglomerate Saudi Oger, is interested in taking part in this month’s 4G licence tender, despite the current auction guidelines not encouraging competition.
As such, the operator, which said it had…
Wireless broadband operator Zapp, a subsidiary of conglomerate Saudi Oger, is interested in taking part in this month’s 4G licence tender, despite the current auction guidelines not encouraging competition.
As such, the operator, which said it had actively participated in the public consultations held by telecoms regulator Anacom, has suggested a series of proposals to boost the participation of new players in the 4G tendering process.
Highlighting the country’s bailout, Zapp expressed “serious interest” in bidding on spectrum in the 800MHz, 1800MHz and 2600 MHz bands, with a view to becoming a 4G operator.
Vodafone Portugal has also criticized the 4G rules, saying they are unclear.
A public consultation on these rules was concluded on May 2. Anacom has stated that the 4G auction will take place sometime in June, but has yet been unable to release a specific date for the auction.
Anacom, which was not available for comment by the time TelecomFinance went to press, aims to raise up to E462m from auctioning the 450MHz, 800MHz, 900MHz, 1800MHz, 2.1GHz and 2.6GHz frequencies.
Last November, Zapp awarded Chinese equipment maker ZTE a E30m contract to roll out nationwide WiMAX services. Zapp said at the time it aimed to offer initial 4G services in Lisbon, Oporto and other undisclosed Portuguese cities by July 2011 in the 3.5GHz frequency.
Saudi Oger also has telecoms investments in Turkey’s Turk Telekom and Avea, and South Africa’s Cell C.
Incumbent Portugal Telecom has adjusted the exchange price and threshold of its E750m 4.125 per cent notes due in 2014.
As of 31 May, the exchange price of these bonds is E9.40 with a threshold amount of E0.4659, according to a statement.
“Thus, each holder of a bond in a principal amount of E50,000 will be entitled to receive 5,319 shares of PT upon exercise of exchange rights, under the terms and conditions of the bonds,” the company said.
