Next to invest USD370 million in 3G

29 Nov 2005

Trunk-radio operator Next Mobile has revealed plans to spend PHP20 billion (USD370 million) on rolling out 3G services in the Philippines over five years; the cellco expects to win one of five 3G licences being put up for sale next year. According to the National Telecommunications Commission (NTC), the operator plans to borrow PHP6.37 billion (USD117 million) in its first three years of operation, and to secure around PHP3 billion (USD55.4 million) in supplier credit over five years.