The Mobile LTE consortium, one of three shortlisted groups to partner struggling state-run Thai telco TOT in the 4G mobile sector, has pledged to raise its capital to THB2 billion (USD61 million) from THB100 million if it is selected for the strategic contract. Mobile LTE, formed by ICT and oil trading companies, is competing against bids from Thai mobile market leader AIS and domestic group Loxley (an existing telecoms partner of TOT). Siripong Oontornpan, Mobile LTE’s CEO, told the Bangkok Post that the group plans to immediately raise extra capital if it wins the tender, having proposed a plan involving renting out TOT’s 2×15MHz of 2100MHz spectrum to provide 4G services, projecting ten million customers under a five-year partnership contract. TOT aims to select its 4G joint venture partner by April, but is still at the stage of selecting an international financial advisor to assist it in its evaluation.
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