LG to partner with PT&T for 3rd telco slot

MANILA, Philippines — Malacanang has reported that South Korea’s LG Corp. is interested in striking a joint venture with Philippine Telegraph and Telephone Corp. (PT&T) in  a bid to enter the Philippine telecommunications industry.

Presidential Communications Secretary Martin Andanar made the revelation even as China Telecom gears to be the third player in the country, as earlier announced by President Duterte.

Citing his own sources, Andanar said LG is the Korean company that wants to partner with PT&T.  

“It will become a very exciting telco industry for the Philippines this 2018,” he told DZBB Radio Friday night.   

During a Cabinet meeting last Monday, the Department of Information and Communications Technology (DICT) reported to the President the players who want to enter the telecoms industry.

Following Duterte’s latest pronouncements on China Telecom, the Korean firm expressed interest in challenging the duopoly of Smart Communications and Globe Telecom.

China Telecom, however,   has not found a local partner with an existing franchise to comply with the country’s constitutional provision limiting foreign ownership to 40 percent.

As far as the administration is concerned, Andanar said the offer is also open to other countries which want to compete with Smart and Globe.

“Whoever has the best offer in the bidding wins. It’s not a monopoly when it comes to a third player. We really want the best,” he added.