Mislatel's permit to operate may be released by end of June: NTC


Posted at Jun 06 2019 05:03 PM

MANILA - Third telecommunications provider Mislatel may obtain its permit to operate by the last week of June or the first week of July if all requirements would be completed in the coming weeks, an official said Thursday. 

The certificate of public convenience and necessity (CPCN) could be released as soon as the consortium of China Telecom and Dennis Uy's Chelsea Logistics and Udenna Corp. comply with the remaining requirements in the coming weeks, National Telecommunications Commission Deputy Commissioner Edgardo Cabarrios told reporters.

"If they can do that within the first half of June and submit the performance security by the third week of June, the CPCN may be issued by the end of June or first week of July," Cabarrios said. 

Mislatel is still waiting to get the approval of the Securities and Exchange Commission for the increase in paid-up capital to P10 billion, he said. 

The House of Representatives in May concurred with the Senate's approval of the transfer of the controlling interest of franchise holder Mindanao Islamic Telephone Company.

Mislatel earlier said it would invest P257 billion over the next 5 years to cover 84 percent of the Philippine population.

- with a report by Bruce Rodriguez, ABS-CBN News