PT&T seeks 3rd telco slot
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. /