It looks like MyRepublic won't be the fourth telco in Singapore, as many Singaporeans have hoped for.

According to IMDA (Infocomm Media Development Authority) today (Dec 14.), TPG Telecom made the winning bid of S$105 million needed to launch mobile services, thereby turning them into our 4th and newest mobile service provider.

This came as a shock for many of MyRepublic supporters.

MyRepublic too, were morose as they released their statement on Facebook:

In case you can't see it, here's the statement in full:

Hi guys,

As you might have heard on the news, the New Entrant Spectrum Auction (NESA) concluded today. After we made our final bid of $102.5M, the auction price continued to rise to $105M and we made the decision to exit the auction.

It was after serious consideration that we decided that bidding $105M and beyond for the spectrum did not support our vision and business case for mobility in Singapore.

At the current spectrum price, we believe that a new entrant must achieve a much higher market share (compared to our own target of 9%) to survive and be successful. This creates a risk that does not make sense to us, considering the economics of the Singapore market.

We are very proud of the work that our team has put in over the past 2 years. The whole process has been a valuable learning experience. Although we will not be a 4th mobile network operator, we are still committed to the Smart Nation vision and will continue helping realise a converged fixed-mobile future.

Looking ahead, we will continue innovating in our fixed broadband business, while also seeking opportunities for mobility in other markets. Any lessons and business models we have made in Singapore will help inform all our future regional projects.

Thank you to everyone out there who believed in us and supported our mobility bid. We're sorry it didn't work out the way we hoped.

MyRepublic had promised that an unlimited data plan would be made available should they win the bid to become Singapore's 4th Telco.

They also promised to offer a year of free data to subscribers, too.

Now that they won't be able to do so, there were many who felt upset:

Then there was those who offered some encouraging words:

In the flurry of comments, however, perhaps there is one comment that proposes a win-win solution for everyone involved.

Well, when there's a disturbance in the fourth, perhaps.

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