Five firms buy documents in bid for 3rd telco slot

Five firms buy documents in bid for 3rd telco slot

Five companies have purchased bid documents for the third telecommunications spot. Davao-based businessman Dennis Uy’s Udenna Corp., former Ilocos Sur governor Luis ‘Chavit’ Singson’s LCS Group of Companies in partnership with TierOne Communications, businessman Mel Velarde’s Now Corporation, Norway’s Telenor Group, and another as-yet unidentified firm continued with their bids to become the country’s new major player in the telecommunications industry. On Monday, the first day of their availability, the companies bought bidding documents worth PHP1 million (US$18,500) at the office of the National Telecommunications Commission in Quezon City. Department of Information and Communications Technology (DICT) Secretary Eliseo Rio Jr. said bidders are also required to post PHP700 million (US$12.9 million) in participation security. Companies are allowed to buy bid documents until the submission and opening of bids on November 7th. The new major telco player is expected to be confirmed in December.

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