Gov’t defers bid submission for third telco to May
The Department of Information and Communications Technology has decided to defer the bidding for a new telecom player by two months upon request of the interested parties.
DICT pushed back the deadline for the submission of bids to May 18 from March 27 to give telco firms more time to prepare for it.
Among those that have announced their intention to join the race are Philippine Telephone & Telegraph Corp. of bilyonaryo Manny Zamora, NOW Corp. of businessman Mel Velarde, and Converge ICT.
The applicant with the highest committed investment for the first five years will be selected and this commitment should be secured with a performance bond.
Candidates must have at least P400 billion to P500 billion over a period of five years to compete with the industry giants.