PT&T TO FILE SUPPLEMENTAL PAPER ON FRANCHISE ISSUE

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PHILIPPINE Telegraph and Telephone Corporation ( PT& T) is set to submit a supplemental position paper to the House of Representatives to prove that it has not violated the provisions of its franchise.

The company informed the Philippine Stock Exchange ( PSE) on Monday that it will paper to the House committee on legislative franchises.

“PT& T is confident that the members of the Sub-Committee on Oversight will be convinced that PT& T did not violate the provisions of its franchise,” it said.

Asked for details about the new position paper, PT&T Chief said in a text message: “[U]nable to share any details re the position paper and the date. We will disclose to the PSE if and when the updates occur.”

The planned position paper is in addition to an earlier paper it has already submitted following a report on PT& T’s legislative franchise.

The report said the committee has sought to open an inquiry to probe the non- compliance of PT& T with the terms and conditions of its franchise, questioning the move of its former owners to change the ownership of the company “without getting the prior approval of Congress, as required by its franchise.”

The report further said the National Telecommunications that the telco failed to inform the latter on its transfer of ownership, noting that this could jeopardize PT&T’s bid to become the country’s third telco player because its congressional franchise could supposedly be cancelled if the violation is proven.

However, PT&T has expressed optimism that such issues would not affect its vision to become the country’s third telco player.