Local newspapers reported that Col Settapong Malisuwan, chairman of the NBTC’s telecom committee, said that the reserve price for 3G licenses (2.1GHz spectrum) is likely to be set in the Bt7-10bn range. The defunct NTC’s 3G Information Memorandum (IM) had set a reserve price of Bt12.8bn. The committee is working on a new 3G IM, which is scheduled for completion in April. License auctioning is still planned for 3Q12. This obviously was extremely positive for ADVANC, DTAC and INTUCH. I have to put my hands up and say I’ve completely missed the rally in these counters, I never thought that the dividend yields would continue to remain so high in light of the amount of capex required to buy the 3G licenses, oh well at least we’ll finally have “real 3G” soon!