Udenna-China Telecom wins telco bid as others drop out

Udenna-China Telecom wins telco bid as others drop out

The Mislatel Consortium was the lone qualified bidder for the country’s third telco slot after two rival bidders— PT&T and the Chavit Singson-backed LCS Group of Companies and TierOne consortium—were disqualified for lacking certain requirements, and all other players opted out. Ten parties, both foreign and local, had purchased P1-million selection documents, but did not participate in the final bidding. The decision on the new telco came two years after President Rodrigo Duterte said he would approve a third license to improve the country’s wifi coverage and internet speeds. The president has expressed a desire to have a Chinese firm in the domestic market. A consortium of a Davao-based businessman and a state-owned telecommunications provider from China has emerged as the Philippines’ provisional third telco to challenge the duopoly of PLDT and Globe Telecom. Dennis Uy-led Udenna Corp and foreign partner China Telecommunications Corporation will form the Mislatel Consortium.

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