MANILA, Philippines — Foreign telco players are interested in penetrating the Philippine market, which at present remains dominated by only two – Manuel V. Pangilinan’s PLDT Inc. and Ayala-led Globe Telecom.
Australia’s Telstra Corp. Ltd. and China Telecommunications are among the companies reportedly eyeing the Philippine market, several industry and government sources told The STAR over the weekend.
“Those are among the foreign telco companies interested in the Philippines,” one source said.
It is not yet clear how this can happen but they may tap a local partner and together, be the third player in the industry, or participate in the government’s P77.9-billion National Broadband Project.
“It could be a different strategy such as the broadband project,” said another source.
Telstra and diversified conglomerate San Miguel Corp. (SMC) earlier explored a possible joint venture to be the third telco player in the Philippines, but the talks bogged down last year.
The Australian giant was reportedly ready to invest $1 billion for the deal but even after announcing the joint venture would not push through, Telstra said at the time it remains committed to providing SMC technical expertise should it pushes through with a plan to be the Philippines’ third player.
Telstra officials have also said the company wants a third of its profits and revenue to come from overseas.