SINGAPORE (THE BUSINESS TIMES) - In a move widely expected by industry analysts, telcos StarHub and M1 on Thursday (Jan 23) said they have signed an exclusive agreement to submit a joint bid for one of the four 5G network licences up for grabs in Singapore.

Earlier this month, the Infocomm Media Development Authority said it had extended the deadline to Feb 17 from the original cut-off date of Jan 21 to give operators more time to submit their proposals.

Pundits have predicted that Singtel will bag one of the two nationwide licences available, with the other going to a joint bid by StarHub and Keppel Corp subsidiary M1.

StarHub and M1 did not specify which of the licences - nationwide or localised - they will be vying for. Another potential contender for a licence is mobile network operator TPG Telecom, an Australian entrant.

StarHub shares ended trading on Thursday at $1.49, up $0.02 or 1.36 per cent.