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Philippine Telegraph & Telephone Corp. (PT&T) will partner with Chinese companies to challenge the nation’s two dominant telecoms groups, the chairman of PT&T said on Tuesday, a move which could be a game changer in the local market.
The comment comes a day after Philippine President Rodrigo Duterte offered to break a duopoly in a sector that has frustrated consumers for years Monday, in a statement made through presidential spokesperson Harry Roque, recognizing that China has the money and technology to make a difference in the nation, which suffers from being among the slowest and most intermittent data and voice service in the region.
“Consider also the proximity and the fact that we want to avail of as much as economic advantage that we could, arising from the renewed friendly ties with China,”
Roque told a media briefing.
PT&T Chairman Salvador Zamora said the company is talking to eight companies including China's state-owned operator China Telecoms, about forming strategic partnerships.
It is set to sign a deal with ZhongXing TianTong Technology Co. Ltd., before the end of the year as part of plans to turn the firm, currently a niche player, into a domestic force.
Zamora, whose business interests include mining, real estate and energy, described Duterte’s move as a “godsend,” adding that Chinese companies could not operate alone in the Philippines and would need to partner with a local firm.
(REUTERS)
