On Monday Senate Public Services Committee began hearings into the entry of a third telco player that will compete with giants PLDT and Globe. The Senate panel convened to receive updates on the ‘status of talks’ for the entry, as well as the process of selecting the country’s third telco. The Department of Information and Communications Technology Acting Secretary Eliseo Rio Jr., National Telecommunications Commission Chairman Gamaliel Cordoba, Securities and Exchange Commission Chairman Emilio Aquino, Philippine Competition Commission Chairman Arsenio Balisacan, Socioeconomic Planning Secretary Ernesto Pernia, and Science Secretary Fortunato dela Peña were called to update senators on the bidding developments for a third telco player. The explanatory hearing was also called for senators to assess the need for remedial legislation in the wake of reports that the Philippines has one of the most expensive mobile and data rates, even though the country is ranked near the bottom in Internet speed.
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