MANILA – Filipino-Chinese consortium Mislatel, which won rights to establish a third telco, has “hit the ground running” to meet regulator requirements, its spokesman said on Wednesday.
These include raising P10 billion in capital, securing clearances from the Philippine Competition Commission and the Securities and Exchange Commission and getting approval from Congress on changes in its management, Mislatel spokesman Adel Tamano said.
“We will make it a point to comply with everything in 90 days,” Tamano said, referring to the time frame from the National Telecommunications Commission.
“We’re not just starting to look for resources today. We’ve planned for this,” he said. “In case we won, we wanted to make sure we have the funding necessary so that we can have a fast and strong rollout.”
Mislatel is made up of China Telecom and Davao tycoon Dennis Uy’s Udenna Corp and Chelsea Logistics.
Uy is “open to discussing possible partnerships at the proper time,” Tamano told ANC’s Market Edge. (With ABS-CBN News/PN)
