Thailand’s True Corp has appointed Siam Commercial Bank (SCB) as financial adviser and lead arranger to support its development of 3G services as it prepares to bid in the 2,100 MHz UMTS licence auction. According to the deal, SCB will work with other financial institutions to arrange funds for True Corp’s 3G plans. True Corp has earmarked THB25 billion-THB30 billion for 3G network development over the next two years, excluding the THB12.8 billion minimum concession price for spectrum set by the National Telecommunications Commission. True Corp also plans to sell a part of its stake in its subsidiary Real Move (formerly S&K Wireless) – via which it is bidding for the 3G licence – to help fund its 3G development. Eighteen companies have purchased bidding documents for the 3G auction to be held on September 20, 2010 and September 28, 2010.
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