Pres. Rodrigo Duterte will personally hand over on Monday, July 8, the Certificate of Public Convenience and Necessity (CPCN) to new major player Mislatel consortium.
Duterte is scheduled to grace the awarding ceremony, which will be held at Malacanang Palace at 5:00 in the afternoon.
To be led by the Department of Information and Communications Technology (DICT) and National Telecommunications Commission (NTC), the awarding of the CPCN will officially greenlight the third telco’s operation in the country.
Davao-based businessman Dennis Uy, a friend of Duterte, will accept the CPCN on behalf of the Mislatel consortium, which posted a P25.7-billion performance bond for their commitments as the new major player.
The winning consortium of the third telco bid, comprised of Mislatel, Udenna Corporation, China Telecom, and Chelsea Logistics, promised to offer 55 Mbps of Internet speed that covers 84.01% of the population in five years.
They also intend to spend P257 billion in infrastructure and service rollout during the said period.