Philippines confirms Mislatel as third telecom player

Source: Xinhua| 2018-11-19 20:42:38|Editor: xuxin
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MANILA, Nov. 19 (Xinhua) -- The Philippines' National Telecommunications Commission (NTC) confirmed on Monday that Mislatel, a consortium composed of China Telecom and its Philippine partners, as the country's third major telecommunications player.

Mislatel pledged to provide 27 megabits per second (mbps) on its first year and 55 mbps on its second year, bringing Internet speed close to that of Singapore.

According to NTC, the consortium stands to lose 24 billion pesos (roughly 456.999 million U.S. dollars) and the allocated frequencies if it fails to fulfill its commitments.

Philippine President Rodrigo Duterte has lauded the entry of China Telecommunications Corp., or China Telecom in his country's telecommunication industry, saying the Philippines stands to benefit from the "good competition" that a Chinese telecommunication company will bring to the industry.

"China Telecom will join hands with the Philippine partners to promote the comprehensive collaborations of the communications industry between the two countries, boost cooperation and exchanges with counterparts in the realms of communications equipment manufacturing and Internet applications," China Telecom said in a statement on Monday, adding that it is a concrete move for the company to implement the Belt and Road Initiative.

On Nov. 7, the selection committee of the NTC declared a consortium between China Telecom and a Philippine partner Udenna Corp. and its unit Chelsea Logistics Holdings Corp. as the provisional third telco player in the Philippines.

The Udenna Corp., which was incorporated in 2002, is among the fastest growing holding companies in the Philippines.

The Philippine administration is seeking the third major telecommunications player that would compete with the duopoly rivals PLDT and Globe to boost the country's telecom services.

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