Well that was fun morning session with the NCPO announcing a postponement for the 4G, specifically that it would auction in July next year 25 MHz of bandwidth on the 1800 MHz spectrum and 17.5 MHz on the 900 MHz spectrum. What happened? Well let’s have a look @ the charts.
The telco sector is one of the largest sectors in the market hence the early morning drop for the SET and even though the SET recovered, on buying in banks, ADVANC (AIS), DTAC and TRUE stayed in the red for the rest of the day.
Now why on earth would the NCPO decide to do this? Officially,
Source: Bangkok Post
Well that’s lovely, I suspect its mainly due to the amount of corruption that has been going on the NBTC and I HOPE that they are cleaning things up. However don’t forget, this isn’t the first time this has happened in Thailand. Remember the 3G postponement?
So who’ s going to be the worst hit, for now, ADVANC, they have no more additional bandwidth while DTAC and TRUE are still ok but let’s be honest to ourselves, ADVANC and DTAC are yielding 5-6%, TRUE has it’s earnings turnaround story, and we’ll have the frequency auction in a year from now anyways. Nothing has changed, just delayed.