PLDT, Globe welcome new telco
Telecommunication giants Philippine Long Distance Telephone Company (PLDT) and Globe Telecom Incorporated on Wednesday, November 7, welcomed the China Telecom-led Mislatel Consortium as the New Major Player (NMP) in the telecommunications industry.
Mislatel, a partnership between China Telecommunications Corporation and Davao businessman Dennis Uy’s Chelsea Logistics Holdings Corporation, was declared Wednesday as the provisional NMP after the detailed evaluation of its selection documents.
“We welcome the entry of a new player in the Philippine telecommunications industry. Competition is the norm in a liberalized environment and will benefit our customers, the industry, and the country,” PLDT said in a statement posted on its Facebook page.
Globe, for its part, said the selection of Mislatel would “help foster a healthy competitive environment and ultimately benefit consumers.”
The Ayala-led telecommunications company said the NMP has the potential of opening up new sources of revenue streams for telcos while providing consumers with more innovative products and services.
“We are glad for the smooth selection process undertaken by DICT and NTC. As previously and continuously stated, we hope the government will equally support the existing telcos like Globe, which continue to provide services to millions of Filipinos, and in the case of Globe, over 67 mil-lion total subscribers,” said Globe general vounsel Froilan Castelo.
Globe said it has started divesting its tower assets and creating a separate tower holding company to help foster competition.
“This initiative will allow the third player to rapidly roll out its network and launch commercial operations. It will also give smaller players the opportunity to scale up their business without the burden of high capital expenditures,” Globe added.