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News and Events

Share Prices of NOW Corp and Chelsea Logistics Mirror Vagaries of 3rd Telco Race

Not just the bidders but thousands of market investors also won and lost in the selection process

Dennis Uy, a Davao-based business tycoon and one of President Rodrigo Duterte’s biggest campaign contributors in the 2016 elections, is one step closer to becoming the operator of the country’s third major telecommunications company.Mislatel Consortium, which is composed of Uy’s Udenna Corp. ...

by Pauline Macaraeg  | November 07, 2018 06:00:00
News and Events

UPDATED: Group of Dennis Uy and China Telecom Named PH's 3rd Telco

The company's second package of bid documents is now under evaluation

Updated: Mislatel, the newly formed consortium of Davao-based businessman Dennis Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., and China Telecom, has been provisionally named as the new major telecommunications player on Wednesday, November 7.The consortium garnered 456.8 points for its ...

by Elyssa Christine Lopez  | November 07, 2018 04:00:00
News and Events

3rd Telco Race Down to Groups Led by Davao's Dennis Uy, Ilocos' Chavit Singson and PT&T

Most of the 10 companies who bought bid documents for Php1 million stayed away because of tough rules

UPDATE: Mislatel, the newly formed consortium of Davao-based businessman Dennis Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., and China Telecom, has been provisionally named as the new major telecommunications player on Wednesday, November 7. Read the full story here.Only three groups of ...

by Elyssa Christine Lopez  | November 07, 2018 12:00:00
News and Events

Will PH Really, Finally Have a 3rd Telco in 101 Days?

DICT releases final guidelines on selection of new major player in time for Duterte's Christmas deadline

The Department of Information and Communications Technology (DICT) released the final rules to govern the selection of the new major telecommunications player on September 21, after seven months of talks and deliberations with stakeholders.The 27-page Memorandum Circular (MC) No. 09-09-2018’s release comes ...

by Elyssa Christine Lopez  | September 21, 2018 06:00:00
News and Events

Dennis Uy Buys 45% Stake in ISM Communications as Share Price Doubles Since June

Davao businessman pays Php1.28 billion for equity position in a company that used to own telco assets

Listed company ISM Communications Corp. announced that it has approved the acquisition of 45 percent of its total outstanding shares by Dennison Holdings Corp., a company owned by Davao-based businessman Dennis Uy.In a disclosure to the Philippine Stock Exchange (PSE) on August ...

by Lorenzo Kyle Subido  | August 17, 2018 12:00:00
News and Events

Duterte in Fresh Push for Tax Reforms Amid Backlash Vs TRAIN Law, Outlines Other Economic Priorities

The president says the remaining tax reform packages will be submitted to Congress by end-July

Despite the popular backlash against the first package of the Tax Reform for Acceleration and Inclusion (TRAIN) law that is being widely blamed for rising inflation, President Rodrigo Duterte urged Congress to pass the remaining five packages of his administration’s tax reform ...

by Elyssa Christine Lopez and Pauline Macaraeg  | July 23, 2018 08:00:00
News and Events

New Telco Up and Running By End of 2019 Says DICT

Oversight committee agrees to choose third telco player based on committed service rather than auction

The government will choose the new major telecommunications player in the local market based on its promised committed service in its first five years of operations, the Department of Information and Communications Technology (DICT) announced on Friday, July 20.The Highest Committed Level ...

by Elyssa Christine Lopez  | July 20, 2018 07:00:00
News and Events

DICT Warns Choosing 3rd Telco Through Auction May Cut Contenders to Only Two

Three-fourths of telecom firms with legislative franchise favor alternative modes, survey shows

The panel during the third public consultation on the entry of a new major telco player included (from left) NTC Director Edgardo Cabarios, Presidential Adviser on Economic Affairs and Information Technology Communications Ramon Jacinto, DICT Acting Secretary Eliseo Rio, NTC Commissioner Gamaliel Cordoba ...

by Elyssa Christine Lopez  | July 06, 2018 07:00:00
News and Events

Gov't Moves Closer to Selecting 3rd Telco Player as DICT Finally Publishes Guidelines

Next step: public consultations in the first week of July

The Department of Information and Communications Technology (DICT) and the National Telecommunications Commission (NTC) have issued stricter financial and operational guidelines for the country’s third major telco player.On Wednesday, June 27, the DICT published the latest draft of the terms of reference ...

by Elyssa Christine Lopez  | June 26, 2018 08:00:00
News and Events

Will Moves to Lift Foreign Restrictions Add to Delays in the Selection of 3rd Telco Player?

The DICT is eyeing end-August but also wants to liberalize telecoms to attract more foreign contenders

Already running late—well past President Rodrigo Duterte’s initial March deadline—the selection of a third telco player is now being pushed back to end-August or early September, according to the latest timetable of the Department of Information and Communications Technology (DICT).Nonetheless, the agency ...

by Elyssa Christine Lopez  | May 04, 2018 03:00:00
News and Events

Gov’t Toughens Rules to Ensure 3rd Telco Player Doesn’t Slack Off

Winning bidder required to put up performance bond and deposit 30% of planned investment each year

The Department of Information and Communications Technology (DICT) released last Monday, February 19, a joint memorandum circular that outlines the draft rules and qualifications for the third telco, as well as the selection process that the government will undertake in choosing the ...

by Lorenzo Kyle Subido  | February 20, 2018 02:00:00
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