The selection for the third telco that would compete against the giant companies such as PLDT and Globe Telecom as an internet provider has always been a fuss for the past few months. Unsatisfied customers of the existing telcos aren't just the ones who are excited to know what telco bidder will win but also the Philippine stock traders.
If you are part of the trading groups on facebook, you have probably seen how Filipinos are trading speculatively over third telco bidders. One of the most favorite stocks is NOW Corporation, which has an all-time high price of more or less 20 pesos. And now it's down close to 2 pesos simply because it was not chosen as the third telco.
Just a few hours ago, the National Telecommunications Commission declared Mislatel Consortium as the country’s "provisional" third telco. MISLATEL is a partnership between China Telecom and Davao Tycoon Dennis Uy's Udenna Corp and Chelsea Logistics.
The announcement is still temporary for SEAR TELECOM and PT&T, two of the top three telecom bidders, are filing some disputes after being deemed disqualified for having unmet requirements.
Perhaps, the Telco series isn't over yet, is it?
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