Arising from GTE's statement on 24 April 98 that GTE is not a consortium member of P2P and has no equity stake in the venture, TAS had given the local partners of P2P (Teledata and Natsteel) until Monday, 27 April 98 to sort out its ...
Singapore, 27 April 1998 | For Immediate Release
Arising from GTE's statement on 24 April 98 that GTE is not a consortium member of P2P and has no equity stake in the venture, TAS had given the local partners of P2P (Teledata and Natsteel) until Monday, 27 April 98 to sort out its composition before it accepts TAS' public cellular mobile telephone services (PCMTS) licence. Teledata, which is the lead partner in the P2P consortium, has today informed TAS that it is not able to form the consortium along the shareholding structure proposed in its tender submission. As such, P2P will not be able to accept the award of the licence. TAS has noted the explanation from P2P's local partners that they are not able to form the consortium and that they will not be able to accept the PCMTS licence. TAS intends to issue the licences to the successful tenderers next month. In view of P2P's clarification, there will be no award of a PCMTS licence to P2P.
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