Converge ICT founder and chief executive officer Dennis Anthony Uy said proceeds of the IPO will boost the company’s objective to build the largest fiber broadband network in the country.
But a report from the World Bank noted that the country’s Internet connectivity – the foundation of the digital economy – is limited in rural areas, and where they are available, services are relatively expensive and of weak quality.
NEDA assistant secretary Carlos Bernardo Abad Santos said one of the major constraints is the country’s slow broadband speed.
As of August, PLDT said its fiber infrastructure now spans 382,500 kilometers, up 19% from end-2019, boosting the coverage of its fiber-powered fixed network to 8.1 million homes, up 12% from end-2019.
Sen. Manuel “Lito” Lapid has filed a bill aiming to establish broadband Internet connection in all unserved and underserved cities, municipalities, and barangays in the
With the investment, Converge ICT said it will be able to fastrack the construction of its $1.8-billion nationwide Internet backbone.
The Better Broadband Alliance said the new player should be flexible and versatile enough to consider that it will likely not have a free ride on existing infrastructure,
Globe Telecom issued a statement on Friday, December 15, disputing the assertion by the government that the combined capacity of the country?s telcos is only at 2 Tbps.