For the past 2 years, San Miguel has been beefing up its telecommunications portfolio, acquiring a third or more of Liberty Telecom, Eastern Telecom and BellTel. The company is the newest entrant into the now duopolistic industry. San Miguel president Ramon Ang expressed confidence it's not too late to compete or even rival its leading competitors. Two weeks ago, top telco PLDT forged a deal to acquire no. 3 player Digitel for P74 billion.
San Miguel Corp., the newest telecommunications industry player, remains confident it can compete and be profitable in the duopolistic local market. Ramon Ang, president of San Miguel, said Monday that the diversifying conglomerate has some tricks up its sleeves.
Diversified conglomerate San Miguel Corp. is expected to announce today the terms of a P250-billion share sale and bond issuance in line with plans to spend for infrastructure and telecommunication projects, Aurora T. Calderon, senior vice-president, said.
MANILA, Philippines - Lance Gokongwei, director of telecommunications firm Digitel, told ABS-CBN News that the recent P74 billion deal with giant Philippine Long Distance Telephone Co. (PLDT) will be beneficial to subscribers of Sun Cellular, Digitel's brand.
MANILA, Philippines – The market has gone mobile. And it carries a small tool more powerful than any of the earliest computers ever were, capable of thrusting the communicating and computing public into a digital revolution.
MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) is taking control of rival Digital Telecommunications Philippines Inc. (Digitel), a move that analysts said would reduce the mature telecommunications market back to a duopoly.
How PLDT will benefit from this swiftly executed deal is apparent: It solidifies its position as the dominant telecommunication player in a capital-intensive and highly competitive industry. But what's in it for the Gokongwei family, Digitel's controlling shareholders?
MANILA, Philippines - The Philippine Long Distance Telephone Co. (PLDT) group expects competition within the local telecommunications industry to remain “very robust,” even after the country’s largest telco acquired control of competitor Digital Telecommunications Phils. Inc. (Digitel).