Dito CME Holdings Corp. said the Konektadong Pinoy bill would not necessarily reduce service costs immediately due to ongoing infrastructure gaps, especially cellular towers.
“The problem is that our towers are rarely compared to other countries,” Donald Patrick L. Lim, president and chief operating officer of Dito CME, told reporters on Monday.
He added: “Hopefully, more towers can be built. Because if you attract more people and companies, it won’t automatically make the service cheaper or faster because all of these services still have to cross the highway, and that’s the tower.”
He said more providers won’t offer cheaper telecom services immediately.
He added: “It’s not a free market economy either, because there are also challenges from subordinates. So, I hope everyone can invest, but … it’s not as easy as you think.”
The law, also known as the Data Transfer Act, simplifies the licensing of new entrants to promote competition in data transmission. It entered the law on August 24.
The Ministry of Information and Communications Technology has committed to completing the implementation rules and regulations (IRR) of the law within 90 days.
Mr Lin said the investment of Singapore summit telecom company PTE. Ltd. in Dito CME is expected to be completed within one year.
“It should be done this year…we have to clean up,” he said. fAdjust the details of the transaction.
He added: “Our bosses are just talking to each other and making sure the transition will be (smooth). Because if you put in the money, of course, you want everything to be fixed.”
The deal involved the sale of up to 9 billion Dito CME stocks.
This year, the company plans to raise up to P26.53 billion to boost operations at Dito Telecommunity Corp.
It also plans to raise an additional P288.3 billion through private placement over the next five years. – Justin Ireland D. Table
