IT is no surprise that the Government’s decision to use the auctioning of telecommunications spectrum as a fund raising exercise has rocked the industry. At the end of the trading session yesterday the four large listed telco’s on Bursa Malaysia contributed to a shedding of 17 points from the KLCI.
This came hours after Prime Minister Datuk Seri Najib Tun Razak announced a revision of Budget 2016 that included a plan to optimise government revenue via a bidding process of telecommunication spectrum to be implemented soon.