Wednesday, April 24, 2024

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Globe Telecom welcomes third major player in telco

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With the new third major has been named, Globe Telecom welcomes the new telecommunications (telco) player that was recently named and given the provisional franchise which is owned by Davao-based businessman Dennis Uy’s Udenna Corp. which has partnered with state-run China Telecom to form Mislatel Consortium.
Globe Telecom believes that with the new telco challenger,  this is seen to help foster a healthy competitive environment and ultimately benefit consumers. The new player has the potential of opening up new sources of revenue streams for telcos while providing consumers with more innovative products and services, the Globe said in a statement release to the media.
“We are glad for the smooth selection process undertaken by DICT and NTC. As previously and continuously stated, we hope the government will equally support the existing telcos like Globe, which continue to provide services to millions of Filipinos, and in the case of Globe, over 67 million total subscribers,” said Globe General Counsel Froilan Castelo.
To help foster competition, Globe took a step forward to fulfill its plans to divest its tower assets. It has started the process of incorporating a separate tower holding company. This initiative will allow the third player to rapidly roll out its network and launch commercial operations. It will also give smaller players the opportunity to scale up their business without the burden of high capital expenditures.
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