Third telco entry delayed yet again, P10B minimum cap requirement may be restored
The entry of a third player in the highly intensive telco industry may need to wait a little longer as the Department of Information and Communications Technology is still hammering out the terms of reference for the bidding.
DICT officer-in-charge Eliseo Rio said they hope to release the terms of reference by mid-May and start the bidding process before President Duterte delivers his State of the Nation Address in July.
Rio said the they were also considering restoring the P10 billion minimum capital requirement for bidders to ensure only the serious and capable players can participate.
“If you cannot produce P10 billion, how can you compete with Globe and Smart, which already have hundreds of billions of pesos in assets?” Rio said.