Third Telco To Fulfill Regulator Requirements
Mislatel consortium, Mindanao Islamic Telephone Inc. (Mislatel), Udenna Corporation, Chelsea Logistics Holdings, and China Telecom was declared as the provisional New Major Player by the National Telecommunications Commission (NTC) in November last year. Earlier this week, NTC required Mislatel to submit documents for them to finally secure telecommunications frequencies and a Certificate of Public Convenience and Necessity.
In a statement earlier on Thursday, one of the consortium’s partner said that they will fulfill regulatory requirements for it to function as the Philippines third telco player.
Mislatel, composed of China Telecom and businessman Dennis Uy’s Udenna Corp and Chelsea Logistics, will invest P257 billion over the next 5 years to cover 40 percent of the Philippine population, the statement said.
It committed a minimum average internet speed of 27 MBps in the first year and up to 55 Mbps in the succeeding years.