Govt should take responsibility for irresponsible 900 MHz auction

I totally disagree with TDRI President Somkiat Tangkitvanich’s recommendation that the government take a hard line on mobile phone operators True Corp and Advance Info Services over the payment schedules for their 900 MHz licences. 
The government needs to take responsibility for the irresponsible manner in which NBTC conducted the 900 MHz spectrum auction in December 2015 when Jasmine International was permitted to enter the auction and bid up the price of the licences to a ludicrous Bt151.95 billion, while clearly lacking the ability to either operate a mobile phone business or pay for the licence. 
True and AIS needed the spectrum to maintain their market shares and cannot be blamed for reluctantly going along with the high bidding. The rules of the auction were such that Jasmine only received the equivalent of a mild financial slap on the wrist for defaulting on its obligation. I am not privy to knowledge of what motivated the company’s management to make its unviable bid, but the extreme volatility the auction caused to telecom share prices at the time would have generated large windfalls for any percipient investors.   
George Morgan
Bangkok