The search for the third telco is still on. A few companies from other countries have already shown interest, and one of them is India. One of the well-known countries in the field of technology.
President Rodrigo Duterte stated that some Indian businessmen have cited their interest in the third telco player slot. The President made the announcement during the Federation of Indian Chambers of Commerce Phil. Inc. event in Malacañang last Tuesday.
President Duterte was able to speak to these Indian businessmen during his official visit to India for the Association of Southeast Asian Nations – India Commemorative Summit last month.
The said industry people were the ones who already have business ventures in the country, with the construction sector under their portfolio.
However, foreign companies are only allowed to own 40% of the third telco company while the other 60% should be owned by a consortium of local companies.
President Duterte has been actively pushing to have the third telco to be already up and running as quickly as possible to break the duopoly of PLDT and Globe. The DICT requested to extend the deadline until May, which the President turned down.
Source: ABS-CBN News