MANILA - Globe Telecom on Tuesday said it welcomed the entry of third telco player Dito Telecommunity, formerly known as Mislatel.
Dito acquired its license to operate last July 8, enabling it to roll out its own network to challenge both Globe and PLDT Inc.
Dito's entry "will foster a healthy competitive environment that will ultimately benefit consumers," Globe Telecom senior vice president for Corporate Communications Yoly Crisanto said in a statement.
"Globe Telecom welcomes the entry of Dito Telecommunity in the local telecommunications industry as this will foster a healthy competitive environment that will ultimately benefit consumers," the statement said.
Globe is committed to competing in terms of infrastructure investments, Crisanto said.
In a separate interview, credit rating firm Fitch Ratings said although competition in the country's telco space was likely to remain "stable" in the next 12 months, it would "intensify" in the midterm as Dito rolls out its network.
Dito is likely to gain at least 5 percent of the mobile market share within the first 3 years, Fitch said.
S&P earlier said a part of PLDT's revenue could be "exposed" to competition.