StarHub and M1 are in merger talks in Singapore, while 2degrees and OneNZ have proposed combining their radio networks in New Zealand.
The two Singaporean operators already share 5G spectrum and RAN through Antina, a jointly owned company. That arrangement was mandated by StarHub and M1’s 5G licences, and StarHub says the negotiations are still continuing.
Singapore’s talks sit on top of an existing sharing structure
Antina is not a side note in this story. StarHub and M1 already run shared 5G spectrum and RAN through the company, so the merger talks extend an operating model the two operators already use.
The combined StarHub-M1 entity would be similar in scale to Singtel in both mobile and broadband subscribers, and the analysis implies that a deal would leave Singapore with three mobile operators. Singtel reportedly had a 43% share of the mobile market in June, while M1 held 22%, StarHub 21%, and Simba 14%.
New Zealand’s proposal would push assets into a joint vehicle
In New Zealand, the agreement was announced a month ago. Under it, 2degrees and OneNZ would contribute their RAN assets to a jointly owned entity that would manage and operate the infrastructure on a commercial basis.
2degrees said the merged RANs would allow more efficient investment in expanding coverage and increasing capacity. The deal is expected to win approval from the Commerce Commission next year.
Ownership stays with investment firms on both sides
2degrees is owned by Macquarie Asset Management and Aware Super, while OneNZ is owned by Infratil. That leaves the proposed network combination in the hands of infrastructure and investment owners rather than the operating brands themselves.
Australia and China show the scale range for sharing deals
In Australia, Optus and TPG Telecom struck a spectrum and infrastructure partnership in rural areas last year. TPG Telecom paid 1.6 billion Australian dollars, or US$1.1 billion, for access to Optus mobile towers while also allowing Optus to use some of its spectrum, including the 700MHz and 1800MHz bands.
The China Telecom-China Unicom 5G arrangement involves joint construction and shared spectrum. The shared infrastructure now amounts to 1.5 million base stations, and the arrangement has claimed savings of $56 billion in capex.
Read for operators weighing network-sharing models
The Singapore and New Zealand cases give operators a live reference point for how far sharing can go before it turns into deeper structural change. The disclosed terms also show the range of commercial and regulatory outcomes, from mandated sharing under licence conditions to a proposed jointly owned operating entity.