The Philippine regulator has issued new rules for the upcoming 3G spectrum licence auction. The Memorandum Circular No. 01-03-2010 requires applicants for the last 3G slot to have a net worth of at least PHP 3 billion, The Manila Times reports. Earlier, the National Telecommunications Commission (NTC) only required PHP 100 million in paid-up capital for new telecommunications companies and PHP 400 million for existing players. Furthermore, the NTC raised the performance bond for the winning bidder to at least PHP 1 billion, or 30 percent of the rollout cost for the first two years, up from the earlier requirement of PHP 300 million. Applicants will be required to submit a five-year rollout plan to cover at least 80 percent of provincial municipalities and 80 percent of all cities. Applications can be submitted with the regulator ten days after 13 March. Earlier, the regulator banned existing 3G licence holders from applying for the block of 3G spectrum, but the new regulations may prevent the smaller players from participating in the auction.

source:telecompaper