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Breaking: Converge ICT is out of the 3rd telco race

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We just got a report that Converge ICT backed down from the third telco race despite expressing earlier its interest to join the search.
Breaking: Converge ICT is out of the 3rd telco race
Converge ICT logo

Meanwhile, only three groups  submitted bidding documents at the National Telecommunications Office. 

These are PT&T (Philippine Telegraph and Telephone Corp.), LCS-TierOne consortium of Chavit Singson, and Mislatel consortium (Udenna Corp. and China Telecom).

The deadline of submission was at 10AM today.

Statement from Converge

Breaking: Converge ICT is out of the 3rd telco race
Photo credit: Bim Santos

In a joint statement, Converge and KT Corporation said that they decided not to bid in the new major player program as the conditions imposed for participation is commercially unviable.

Converge, KT Corporation, and Teltech also stated that they are still encouraged by the current aggressive objective of the government to establish a competitive environment and look forward to participating if another opportunity arises.

The government targets to announce a provisional third telco player today.

Stay tuned for our full report later!

What do you guys think?


Source: Bim Santos
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