Despite of a few futile attempts by other companies in the past, Ramon Ang of San Miguel Corporation seems unfazed and tells Philippine Daily Inquirer that “there’s still room for a formidable third player” in the local telco industry.
SMC’s current COO adds that such endeavor is already in the company’s pipeline for quite some time already, but has been pushed to the back seat in favor of other acquisition opportunities.
Following that statement, SMC has formally issued a letter to the Philippine Stock Exchange (PSE) confirming the company’s plan of launching a mobile telecommunications business in 2014.
Ang clarifies though that their upcoming telco will conduct its business separately from Wi-Tribe which is currently being managed by Liberty Telecoms Holdings, Inc. Instead, Liberty will focus on restructuring the struggling mobile broadband provider in the hopes of bringing “stockholders’ equity from negative to positive.”
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