In an effort to improve the notoriously slow internet in the country, the Philippines offered China the opportunity to operate a third telecommunications company in the country last month.
READ: Philippines offers China chance to run third telecom service
Earlier this morning, it was announced that China has chosen China Telecom to enter the Philippine market as the third telecommunications operator in the country.
According to China Telecom’s website, they are a Beijing-based company that was founded in 1995.
“China Telecom is the biggest telecommunications company in China,” Communications Secretary Martin Andanar was quoted in the Philippine Daily Inquirer.
Chinese billionaire Jack Ma said last October during a visit to the country, that the internet was “no good” in front of Philippine telecommunications executives of Globe and PLDT, the only two operators in the country.
Under Philippine law, foreign companies can only own up to 40 percent of a telecommunications company with a local partner, which limits potential competition. President Rodrigo Duterte blames the duopoly for the quality of internet service in the country and said he would push for allowing foreign telcos to operate independently in the country in the future.
But for now, China Telecom would have to partner with a local company in order to operate.
“That partner should not be a small-time company. It should have a lot of money,” Andanar said, although he didn’t say which Philippine company China Telecom would partner with.
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