Mislatel Consortium of Davao-based businessman Dennis Uy and China Telecommunications secured a license from the government to operate as the country’s third major telecom player that would challenge the duopoly PLDT Inc. and Globe Telecom Inc.
Uy accepted the certificate of public convenience and necessity at Malacañang Palace on behalf of Mislatel after posting a P25.7-billion performance bond for their commitments as the new major player.
The awarding of the CPCN by Department of Information and Communications Technology and National Telecommunications Commission officially signaled the third telco’s operation in the country.
The entry of a third major telco is one of President Rodrigo Duterte’s campaign promise to promote genuine competition in the industry and improve the country’s telecommunication services.
The NTC will assign the frequencies 700 megahertz, 850 MHz, 2100 MHz, 2010 MHz, 2.5 GHz, 3.3 GHz, 3.5 GHz and 10.5 GHz to Mislatel.
Mislatel Consortium committed to improve the country’s telecommunications capability within five years by increasing basic internet speed to 55 mbps and covering more than 80 percent of the country’s population.
Mislatel vowed to invest P257 billion over a five-year period, including P150 billion in its first year of operations.
The group committed to provide 27 megabits per second of internet speed in its first year and 55 mbps in five years. It plans to cover 84 percent of the population in five years and 34 percent in its first year of operation.
Mislatel Group as the new major player would challenge existing players PLDT and Globe.
Chelsea is the holding company of the shipping and logistics arm business segments of the Udenna Group of Companies.