President Duterte has repeatedly called for the formation of a third telco in The Philippines
Globe Telecom says that it would welcome the competition from a prospective third telco, if and when the Filipino government succeeds in creating one.
“As repeatedly stated before, Globe is not opposed to the entry of a third player, or for that matter, as many players that the market can accommodate. Globe has always geared itself for growth and competition,” said Froilan Castelo, Globe General Counsel and Senior Vice President.
“Competition has the potential of opening up new sources of revenue streams for telecommunications players while benefiting consumers with more innovative products and services at competitive rates.”
President Duterte has long courted Chinese players to partner up with Filipino firms and create a third telco to breathe life into the country’s stagnant telecommunications sector. However, Chinese telcos have so far remained tight lipped over a potential entry into the Filipino market.
With a population of 103 million, The Philippines is a potentially lucrative market for a would-be telco. However, Castelo says that his company has faith that the Filipino government will create a fair and level playing field when the new telco enters the market.
“We trust the government will do what is fair and just – not only in the selection of the new major player, but also in protecting the vested rights of the current service providers,” he said.
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