Filipino diversified conglomerate San Miguel Corp (SMC) has revealed it is looking to set up a holding company for all its telecommunications assets in the country, ahead of its entry into the nation’s hotly contested telecoms market. Local newspaper The Philippine Star quotes SMC’s president and chief operating office Ramon S Ang as confirming the group’s intentions, in the wake of its recent investments in the industry. SMC has spent PHP9 billion (USD209 million) in the local market – most recently, in February it acquired a 40% stake in Eastern Telecommunications Philippines Inc (ETPI) from AGN Philippines (via ISM Communications Corp) – and now plans to spend additional CAPEX to build a next generation network offering the ‘cheapest rates’ in the country. Alongside ETPI, SMC also owns 41.5% of Liberty Telecom and 100% of Bell Telecom.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to email@example.com.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors