PT&T: “We need a strategic partner”
The Philippine Telegraph and Telephone Corporation (PT&T) has revealed that it will be needing a strategic partner in order to achieve its status of becoming the country’s third player in the local telecommunications industry.
Talking to Inquirer Business, PT&T Chairman Salvador B. Zamora II highlighted the possibility of forging business partnerships with foreign telco companies such as China Telecom and India’s Jio, as part of its long-term plans in the business include being the better alternative to Singtel-backed Globe Telecom and NTT Group-backed PLDT. “But that’s further down the road. We have so much to take care of first,” Zamora noted.
Zamora aims to take the company out of rehabilitation by next year and will explore possible partnerships with foreign telcos as far as Mexico when the Philippine Stock Exchange lifts off their 13-year voluntary trading suspension which could happen within the next three months.
PT&T is one of the longest-running telecommunications companies in the Philippines and has been deemed as a rival to MVP-led Philippine Long Distance Telephone, Inc. before falling on its fortunes during the Asian Financial Crisis in the late 90s. With the revival of the company, Zamora has revealed the reasons for entering the telco sphere. “This is a very promising business. Can you tell me what is [in high demand] next to electricity and water: Wifi internet,” he added. “We will be competitive and we intend to deliver what we promise. Consumers want more reliable internet. We have to be different because we are the new player in town.”
Established in 1962, PT&T is present in Metro Manila and operates with a 700-kilometer fiber-optic footprint, Zamora said. “Our long-term plan is to cover the entire Philippines in three years,” he added. The company is currently operating in the fixed-line broadband space and offers both dedicated and shared broadband facilities for corporate clients and residential users alike.
Source: Inquirer Business