PHILIPPINE Telegraph and Telephone Corp. (PT&T) has denied forming a partnership with three entities for its telco player bid, contrary to a report by a research arm of Fitch Group. “We would like to clarify that there is no partnership between Philippine Telegraph and Telephone Corporation (PT&T) and LG Uplus, National Transmission Corporation and National Grid Corporation of the Philippines,” the company told the local bourse on Monday. “In the event that any material transaction or agreement is entered into with any of these entities, PT&T will officially notify the Exchange through the required disclosure. The Department of Information and Communications Technology (DICT) has removed the P10-billion net worth requirement for the selection of a new telco player amid concerns raised by prospective bidders. Rio said the government is targeting to name the third telco player in June this year.

Source: Manila Times March 06, 2018 16:30 UTC