The common perception is that TPG Telecom won't succeed in...

The common perception is that TPG Telecom won't succeed in Australian mobile because of the lack of spectrum and the cost of towers.

I have been researching spectrum allocations in Singapore and the EU i.e. how it works in fairer jurisdictions in the case of Singapore and larger population blocks in the case of EU

1) The IMDA shows TPGs spectrum allocation and while it is less than the incumbents it states that TPG do not have to service 3G phones. It also states that the allocation is fair.

https://www.imda.gov.sg/-/media/imd...ent-and-coordination/spectrummgmthb.pdf?la=en

2) The next link is a submission from Singtel. It is interesting that all over the submission, Singtel states that lower ranges are used for coverage and higher ones for capacity.  As a side note Singapore have not (yet) allocated 700Mhz to mobile.

https://www.imda.gov.sg/-/media/imd...mt/singtel-mobile-singapore-pte-ltd.pdf?la=en

3) Now looking at EU as Singapore does have a smaller population, the only sub 1Ghz allocation to mobile is 862-960Mhz. Less than a hundred MHz seems thin but confirms the aforementioned point.

http://www.erodocdb.dk/docs/doc98/official/pdf/ercrep025.pdf

So from a spectrum perspective TPG would succeed in Europe, the IMDA thinks it's adequate in SG...why does every Australian think OMG they only have 700Mhz but nothing in the 800-950Mhz range hence they will need to spend more money.

4) The pending 3.5Ghz auction in Australia may be important for capacity but the argument is also somewhat flawed as it implies TPG will have a lot of customers or the likelihood of success increases.

Also, because of the timing of Capex payments over the next few years, TPM could draw the full 1.485 Billion from their undrawn facility now if they wanted to and have $1Billion to go shopping.

5) There is this notion that TPG will need to outlay a lot on towers and access buildings. Well, Google Verizon 5G small cells. Basically, they are on the cusp of supplying mobile antennas in home WiFi devices. So that means if you have an NBN connection, and you have that Huawei WiFi box, soon each box will be a mini tower.  Also because 5G antennas are significantly smaller, the USA is reviewing sticking them onto street lights.

Somehow there is this huge disconnect between what industry people are saying and doing versus punters in TPM.