3rd telco urged to fulfill commitment

    464

    Lawmakers urged third telecommunication player DITO Telecommunity to fulfill its commitments on time to further boost competition in the industry.

    Sen. Grace Poe recently said during a Senate hearing that DITO must prove its capability to deliver satisfactory telecommunications services to Filipinos before its franchise is renewed by Congress.

    Tarlac Rep. Victor Yap of the House Committee on Information and Communications Technology has also urged regulatory bodies to remind DITO to meet the terms of its contract with the government. DITO has committed to finance its P258 billion rollout program over five years and its entry has prompted major telecom companies to accelerate their expansion activities,

    Converge ICT Solutions, focused on the fiber internet business, recently raised P29.1 billion in the stock market’s biggest initial public offering last year. The IPO added to Converge’s market capitalization of P126.44 billion.

    PLDT Inc. leads the industry with a market cap of P296 billion, followed by Globe Telecom Inc.’s P268.51 billion, NOW Telecom’s P6.215 billion and Net 1’s P4.16 billion.

    DITO has committed to build 2,500 cell sites across the Philippines to serve 37.03 percent of the population with a minimum internet speed of 27Mbps.