The 900MHz spectrum will be auctioned at a starting price of $18.4 billion (THB75.65 billion) which was Jasmine’s winning bid, according to the National Broadcasting and Telecommunications Commission. Per auction rules, the operator will also need to compensate NBTC for THB160 million in operating expenses.
According to Jasmine’s CEO Pete Bodaramik, the operator had lined up funding from a major Chinese operator and Chinese banks to pay for the first instalment of its licence fee. However the deal could not be approved before April, resulting in Jasmine missing the 90-day deadline of March 21 2016.
The National Broadcasting and Telecommunications Commission will hold a board meeting on April 12 2016 to approve the latest schedule of the auction.
