MANILA - Philippine Telegraph & Telephone Corp (PT&T) confirmed on Friday that it is in an "advanced stage" of partnership discussions with a South Korean telecommunications company.
“A disclosure will be made as soon as an agreement has been finalized with the South Korean telecom firm,” the company told the stock exchange.
A non-disclosure agreement prohibits them from revealing the name of the firm, PT&T said.
The company also confirmed that the talks are about its entry into mobile.
PT&T added that “no material developments” have been formed since company representatives met with China Telecom months ago.
Last year, PT&T was exploring a possible partnership with China Telecom to become the third major telecommunications provider in the Philippines.
Earlier, Presidential spokesperson Harry Roque said the president wants a Chinese telco provider to be up and running by the first quarter of 2018.