The negotiation between San Miguel Corporation and Telstra to put up a third telco in the Philippines has ended in failure.
According to Telstra’s CEO Andrew Penn, the companies did not agree on ‘commercial arrangements of equity’. On the other hand, SMC President Ramon S. Ang said that despite both companies working hard to solve the issues, they can no longer continue with the talks.
| No deal. |
Even without Telstra, San Miguel Corporation will still push through with putting up a new telco. Ang ensured that it will offer high speed 4G LTE connectivity at lower costs than both Smart and Globe.
“We are not rushing. What’s important is that we give Filipinos a third and better choice that they have been deprived of for the longest time,” Ang added.
What we can do now is wait and hope that San Miguel can realize its promises.
