PT&T confirmed amongst NMP bidders

11 Oct 2018

Philippine Telegraph & Telephone Corp (PT&T) confirmed today that it aims to compete for the country’s New Major Player (NMP) licence and has paid for the bidding documents, reports ABS-CBN. Six companies or joint ventures have so far bought bid documents for the NMP (known as the so-called ‘third telco’) contest to introduce a challenger to the dominant duo PLDT Inc. and Globe Telecom, namely: PT&T; Dennis Uy’s Udenna Corp; a consortium including Luis Chavit Singson (LCS) Corp and Tier One Communications; NOW Corp (NOW Telecom); Norwegian telecoms group Telenor; and one other entity thus far remaining anonymous. The application deadline is 7 November, although the date could potentially be affected by a pending lawsuit from NOW protesting the financial obligations imposed on the NMP.

In a disclosure to the stock exchange, PT&T also confirmed that net income for the year ending 28 June of PHP25 million (USD461,000) as revenues climbed by 62% and its client base grew 72.6% year-on-year.

Philippines, PT&T