To govern against anti-competitive behaviour in the telecommunication sector, the Infocomm Development Authority of Singapore (IDA) has released an industry consultation paper today, to gather feedback on the review of mergers and acquisitions...
Singapore, 16 October 2001 | For Immediate Release
To govern against anti-competitive behaviour in the telecommunication sector, the Infocomm Development Authority of Singapore (IDA) has released an industry consultation paper today, to gather feedback on the review of mergers and acquisitions. The paper is entitled "Proposed Advisory Guidelines Governing Applications for Licence Assignments or Changes in Ownership of a Licensee in Connection with a Proposed Consolidation". In short, it is referred as Consolidation Review Guidelines.
The Consolidation Review Guidelines is developed to complement Section Nine of the Telecom Competition Code1, which states the basic standards and procedures governing IDA's review of mergers and acquisitions or similar consolidations. To develop a competitive telecommunication market, IDA will apply economic analysis to available market data. This will enable us to determine if a consolidation is likely to unreasonably restrict competition or significantly impede the development of future competition in Singapore's telecommunication market.
The aim of this industry consultation exercise is to gather feedback for the proposed Consolidation Review Guidelines, as well as to facilitate industry's understanding of the framework applicable to IDA's consolidation reviews.
The issuance of this consultation paper is part of IDA's on-going efforts to provide a platform for industry members to share their views on the appropriate regulatory framework to be put in place, taking into account industry trends and developments.
All views and comments should be submitted in writing to reach IDA on or before 12 pm, 30 October 2001. Based on the comments received, IDA will consider making the appropriate modifications to the proposed Consolidation Review Guidelines. IDA targets to release the final guidelines by end December 2001.
The consultation paper can be downloaded from the "Policies & Regulation" section, under "Consultation Papers & Decisions" of the IDA website at www.imda.gov.sg.
ISSUED BY CORPORATE COMMUNICATION DIVISION
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
Notes to Editor:
1 More information on Telecom Competition Code can be found on IDA website (www.imda.gov.sg) under "Policies & Regulation" / "Codes of Practice & Guidelines".
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is a dynamic organisation with an integrated perspective to developing, promoting and regulating info-communications in Singapore. In the fast-changing and converging spheres of telecommunications, information and media technologies, IDA will be the catalyst for change and growth in Singapore's evolution into a vibrant global info-communications technology centre. For more information, please visit www.imda.gov.sg.
For media clarification, please contact:
Ms Dulcie Chan
Senior Manager, Corporate Communication
Infocomm Development Authority of Singapore
Tel: +65 211-1999
Fax: +65 211-2227