PT&T in ‘advanced stage of talks’ with Korean telco on partnership deal

Philippine Telegraph & Telephone Corp. (PT&T) is in “advanced stage” of discussions on a partnership deal with a South Korean telecommunications firm, PT&T chairman Salvador Zamora told GMA News Online on Wednesday.

“We will soon make a disclosure to the PSE (Philippine Stock Exchange) that we are in an advanced stage of talks with another telco provider, not from China,” Zamora noted.

He declined to name the South Korean company.

PT&T will issue a regulatory filing this week on the discussions with the Korean telco.

“It’s about our entry to mobile,” Zamora said, but did not elaborate.

PT&T was working to seal a partnership deal with China Telecom, the Chinese government’s choice to enter the Philippine as the third telco player and compete with telecom giants PLDT Inc. and Globe Telecom Inc.—also called a duopoly for practically dominating the industry.

Regarding PT&T’s talks with the China Telecom, Zamora noted there was none. “At this point we have nothing to report about any progress on our talks with China Telecom,” he said.

“Their decision-making process is rather slow,” he said.

In a separate statement on Wednesday, Malacañang said other foreign telcos will have a shot at becoming part of the third industry player in the Philippines if China and China Telecom balk at consummating the deal.

Zamora said earlier that PT&T is keeping its options open in foreign a strategic partnership with other foreign companies should talks with China Telecom fall through. — VDS, GMA News