NTC seeks independent valuation of former CURE 3G licence

28 Jan 2013

Filipino watchdog the National Telecommunications Commission (NTC) will seek an independent valuation of the 3G frequency licence formerly held by PLDT subsidiary Connectivity Unlimited Resources Enterprise (CURE), and surrendered to the government as a condition of its takeover of domestic telco Digitel. NTC commissioner Gamaliel Cordoba is on record as saying that the determination of the Cost Recovery Amount (CRA) for the frequencies in question is the only item delaying the re-allocation of CURE’s 3G licence. The official says that the NTC has completed the terms of reference (TOR) for the auction and is now seeking input from at least three independent auditors to determine the value of the concession. Earlier, PLDT had put a potential spanner in the works when it said it was looking to recoup a minimum PHP2.125 billion (USD52.4 million) from the sale of CURE’s 3G frequencies.