PT&T seeks 3rd telco slot

Sun.Star Davao - - BUSINESS -

Manila -- The Philip­pine Tele­graph and Tele­phone Com­pany (PT&T) for­mally threw its hat in the race to be­come the new ma­jor player in the lo­cal telecom­mu­ni­ca­tions in­dus­try.

This, as PT&T pur­chased bid­ding doc­u­ments Wed­nes­day join­ing bid­ders Udenna Cor­po­ra­tion of Davao-based busi­ness­man Den­nis Uy, TierOne Com­mu­ni­ca­tions in part­ner­ship with the LCS Group of for­mer Ilo­cos Sur. Gov. Luis ‘Chavit’ Sing­son, Now Tele­com of busi­ness­man Mel Ve­larde, Nor­we­gian tele­com op­er­a­tor Te­lenor Group and an uniden­ti­fied lo­cal com­pany.

In a reg­u­la­tory dis­clo­sure Thurs­day, the com­pany has con­firmed re­ports that it has bought bid­ding doc­u­ments worth P1 mil­lion to par­tic­i­pate in the bid­ding process for the third telco player.

“We have down­loaded the bid doc­u­ments as soon as it was made avail­able and have re­viewed it thor­oughly. As it stands, they are ac­cept­able to us. We have bought the bid doc­u­ments and we are con­fi­dent our chances are strong,” PT&T Pres­i­dent and CEO James Ve­lasquez said.

“We be­lieve we are the only lo­cal com­pany that can com­ply with the strin­gent re­quire­ments and we have over 50 years of telecom­mu­ni­ca­tions ex­pe­ri­ence ser­vic­ing the Filipino peo­ple,” he added.

The com­pany like­wise said that it has posted a net in­come of P25 mil­lion in the fis­cal year end­ing June 2018, driven by higher client base and lower oper­at­ing ex­penses. /

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