PHILIPPINES, JANUARY 5, 2010 – San Miguel Corporation (SMC) puts a bigger ring on the telco business as it buys a 40% stake in Eastern Telecommunications Philippines Inc. (ETPI) Inquirer reports that SMC purchased the shares from Vega Telecom Inc, turning the company into the biggest stockholder of ETPI. ETPI is the third telco acquired by the SMC, the two others being Liberty Telecommunications Holding Inc which includes subsidiary wi-tribe Telecoms, and Bell Telecommunications Inc. SMC is also reported to be interested in acquiring Express Telecommunications Group (Extelcom) from the Ongpin Group.
Most of ETPI handles corporate accounts, especially BPO and call center industries. It offers data, internet, and voice product services. Is SMC planning to be a bigger player in the local telco industry?
In the meantime, Globe Telecom seeks to meet increasing demand from its 25 million mobile subscribers and 1 million broadband subscribers by expanding its network capacity. Globe’s Board of Directors were said to have approved a ‘significant amount’ for their network plans this year.
This early in the year and the lines are buzzing in the telco biz.
