5 firms vying to become 3rd telco provider
Aside from Philippine Telegraph & Telephone Corp., four other companies are joining the Philippine government’s race to launch a third telco player by the end of March or early April.
These include Now Corp. of businessman Mel Velarde, Converge ICT, Easycall, and Click.
Meanwhile, South Korea’s LG is also interested in entering the Philippine telco sector through a joint venture with PT&T. China’s ZTE is also reportedly keen on partnering with a Philippine telco to join the race.
Under the guidelines set by the Department of Information and Communications Technology, the third telco player must invest P400 billion to P500 billion over a five-year period to ensure it has financial capacity to challenge industry giants PLDT and Globe.
The third player will also be asked to return frequencies if it fails to deliver.