Chinese telco firm, Mislatel sign purchase deal

Mislatel Consortium of Davao-based businessman Dennis Uy and China Telecommunications Corp. signed a share-purchase agreement to secure permit from the government to operate by July this year. 

Following the Congress’ approval for the transfer of ownership in May 20, Mislatel also updated its timetable of key activities to obtain its Certificate of Public Convenience and Necessity or ‘permit to operate’ from the National Telecommunications Commission (NTC) by July. 

“We’re really hoping to get everything fixed by July. The signing of the agreements is a vivid manifestation of the fulfillment of our goal to provide Filipinos with faster and reliable internet connection,” said Chelsea Logistics Holdings Corp.  president and chief executive officer Chryss Alfonsus Damuy said. Chelsea is a member of the Mislatel Consortium.

“We are grateful for the support and cooperation shown by the approving bodies. Our unified efforts will pave the way for better telecommunications services for all,” he added. 

The National Telecommunications Commission will assign the frequencies 700 megahertz, 850 MHz, 2100 MHz, 2010 MHz, 2.5 GHz, 3.3 GHz, 3.5 GHz and 10.5 GHz to Mislatel.

Mislatel Consortium committed to improve the country’s telecommunications capability within five years, by increasing basic internet speed to 55 mbps and covering more than 80 percent of the country’s population.

Mislatel vowed to invest P257 billion over a five-year period, including P150 billion in its first year of operations.  Darwin G. Amojelar

The group committed to provide 27 megabits per second of internet speed in its first year, and 55 mbps in five years.

The company plans to cover 84 percent of the population in five years and 34 percent in its first year of operation.

Mislatel Group as the new major player would challenge the duopoly PLDT Inc. and Globe Telecom Inc. 

Chelsea is holding company of the shipping and logistics arm business segments of the Udenna Group of Companies.