BLP advises AXIA NetMedia in bid to build the Singapore Next Generation Broadband Network
Berwin Leighton Paisner LLP (BLP) advised Axia NetMedia Corporation (Axia) as lead member in (i) establishing OpenNet, a consortium made up of Canada’s Axia (30%), Singapore Telecommunications Limited (30%), Singapore Press Holdings Limited (25%) and Singapore Power subsidiary SP Telecommunications Pte Ltd (15%); and (ii) in OpenNet’s bid to design, build and operate the passive optic fibre infrastructure relating to the Singapore Next Generation National Broadband Network (Next Gen NBN).
The Next Gen NBN is part of Singapore’s Intelligent Nation 2015 or iN2015 blueprint to turn Singapore into a sophisticated city with seamless connectivity. The new network, which is likely to be around 10,000-km-long, will bring fibre to every address in Singapore. Building the network is expected to cost up to S$4bn, although the IDA has offered financial support of up to S$750m for the winning consortium.
Axia is a listed telecommunications company trading on the Toronto Stock Exchange with an underpinning vision to deliver technology rich solutions that enable organizations to have information that is necessary for high-performance, real-time decision-making. Axia plans, designs, develops and operates ultra-high-performance, Real Broadband™ Open Access Networks that provide uncompromised connectivity in and between both large and small markets. Axia has successfully designed and currently operates Open Access Networks in Alberta, Canada and in France.
Working alongside Axia’s General Counsel, Nicole Springer, the BLP team was led by BLP Singapore Managing Partner, Paul Supramaniam, supported by Richard Chapman (Business & Technology Services (BTS) partner), Alex Lundie (BTS senior associate) and Manoj Purush (Corporate Finance associate).
Commenting on the transaction, Paul Supramaniam said:
“We were privileged to have been involved in this very significant transaction. Axia has extensive experience in operating Open Access next generation networks and their participation in the prestigious OpenNet consortium alongside leading Singapore listed companies SingTel, SPH and SP Telecommunications can help deliver a solution that will put Singapore in the global lead in the infocomm sector.”
If you require any further information, please contact Paul Supramaniam at email@example.com.