The long-awaited license to operate has been finally awarded to Mislatel consortium.
President Rodrigo Duterte awarded the Certificate of Public Convenience and Necessity (CPCN) to the third telco player in the Philippines. This is after the company inked a purchase agreement to acquire CPCN from the National Telecommunications Communications (NTC).
The Mindanao Islamic Telephone (Mislatel) is the franchise holder of the consortium, which allowed them to enter the bidding and ultimately be awarded as the third telco player in the Philippines.
For those who are unfamiliar, Mislatel consortium consists of Dennis Uy’s Udenna Corp., Chelsea Logistics Holding Corp., and Mislatel. China Telecom is also part of it.
Right after being awarded the CPCN, the consortium said that they will be officially changing their name to Dito Telecommunity Corporation.
Dito is expected to start its services as early as 2020, and committed to delivering 27MBps of internet speeds at 37% of the country’s population. They also reassured the government and its people that they will cover 84% of the country with 55Mbps of internet speeds in the next 5 years, with the help of 5G.
To do this, Dito is spending Php257 billion to build infrastructures and other components to deliver on their promises.