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President Rodrigo Duterte had previously stated that he hoped that a Chinese company would be the 3rd major player in telecommunications
POWER TANDEM. Davao City mogul Dennis Uy teams up with China Telecommunications Corporation for the third telco player bid. LeAnne Jazul / Rappler photo file
MANILA, Philippines – Udenna Corporation of Dennis Uy and its subsidiary Chelsea Logistics confirmed Wednesday, November 7, their partnership with China Telecommunications Corporation (China Telecom) for the supply of the third niche of major players in the telecommunications sector.
Their group, called the Mislatel Consortium, was the first to submit bid documents on Wednesday.
"The consortium is confident that Udenna Corporation's extensive supply chain and its knowledge of local industries will complement the world-class expertise in technology and telecommunications of China Telecommunications Corporation," he said. they declared in a statement.
"If the consortium is confirmed as the [new major player]its immediate priority will be to prepare and consolidate all the resources needed to provide the best telecommunication services that Filipinos aspire to. "
China Telecom is the 3rd largest telecommunications provider in China. It is listed on the Hong Kong Stock Exchange and the New York Stock Exchange in the United States.
According to the company's website, it has about 250 million subscribers. It ranked 174th on the Forbes Global 2000 list, based on a composite ranking of sales, profits, assets and market value.
President Rodrigo Duterte initially preferred that China Telecom or a Chinese company be the third player in the telecommunications sector and wanted it to be operational in the first quarter of 2018. However, the government finally opened the door to other actors. (QUICK FACTS: Selection rules for the 3rd telco operator
Udenna, founded in 2002 and run by the Uy, is one of the fastest growing holding companies in the Philippines. This is the distribution and retailing of petroleum products and lubricants from Phoenix Petroleum.
Uy, whose business empire debuted in the president's hometown, in Davao City, was one of Duterte's leading campaigners in the 2016 election. (READ: How to grow a business) , according to Dennis Uy) – Rappler.com
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