Filipino powerhouse Philippine Long Distance Telephone Company (PLDT) is looking to invest at least PHP30 billion (USD675 million) in modernising its networks and services this year. PLDT chairman Manuel Pangilinan told reporters that although the actual capital expenditure budget had not been signed off on, he envisages the company will spend at least PHP30 billion on fixed and wireless operations – with a heavy focus on broadband. The telco’s president Napoleon Nazareno is on record as saying that roughly 50% will be ring-fenced for high speed internet access, and between PHP16-PHP17 billion for its mobile networks. The funding is likely to come from internal resources, he added.
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