Currently, the Philippine telecommunications market is monopolized by Globe and PLDT. President Duterte has repeatedly called for the introduction of a third network operator to bring new competitiveness to the telecommunications market.
Previously, President Duterte had publicly invited China Telecom to become the preferred bidder, but China Telecom was not positive about this.
In January of this year, the Philippine government reiterated its decision to cooperate with China Telecom to form a new telecom operator. It also stated that unless the cooperation between the two parties makes immediate progress, the Philippines may be forced to seek other partners.
Recently, according to foreign media reports, in a document submitted to the Manila Philippine Stock Exchange, TBGI expressed it intend to apply to become the country's third major telecommunications operator.
The document shows that “the chairman has informed the board of directors that it needs to raise funds from private placements, and up to 40% of foreign common stock can participate in various opportunities in the telecom market brought about by the Philippine government’s request to incr