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It’s about time somebody else came along to shake things up.
“Australian telco Telstra will spend up to USD$1 billion for a planned wireless joint venture with San Miguel Corporation in the Philippines, the company’s chief Andy Penn told investors,” reports Judith Balea on Tech in Asia.com.
The USD$1 billion is “just Telstra’s share” in the joint venture. Penn explained: “We are not expecting it to be more than US$1 billion. That would be essentially Telstra’s equity investment. We could own 40 percent of the venture, which would also have external financing as well.”
While Telstra and San Miguel haven’t reached a deal yet, talks are said to be “ongoing.”
Penn also slammed the current service providers in the Philippines, saying, “Frankly, let’s face it, go to the Philippines and experience the lousy service you get from the incumbent operators and you will see that [there’s] opportunity for a new operator to provide a much better quality service … I think there’s a significant opportunity.”
Truth, brother!
Photo: BusinessReviewAustralia.com
OTHER PROBLEMS THAT NEED TO BE SOLVED:
– Pedestrian lanes in Salcedo Village, Makati
– MMDA traffic enforcers eating soup from illegal vendors
– The long lines for bank tellers in Metro Manila banks
– Better traffic light management in Makati AVe cor JP Rizal Sts
– Those inane ‘No Right Turn On Red Signal’ signages
WATCH OUR CARINDERIA CRAWL SERIES:
– Makati: Home of the Original Pancit Puti
– Pasig: Caruz Eatery (we eat with the band Lawson)
– Malate: Vest Ramen In Town
– Intramuros: The Nutrition Fastfood House
– Marikina: Pot-Ling Cuisine
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