Look: Mr Dennis Uy joins the bilateral meeting be tweet China Telecom and PG regulators. @ABSCBNNews @ANCALERTS pic.twitter.com/lzZxaAEuxU

— Warren de Guzman (@wddeguzman) November 20, 2018

MANILA -- Filipino-Chinese consortium Mislatel on Tuesday promised "faster and cheaper" internet after regulators confirmed it as the Philippines' third telco.

One of the partners, China Telecom, signed a letter of intent to study the feasibility of using the Department of Information and Communications Technology's submarine cable landing station with its own facilities.

The Filipino partner, Udenna Corp chairman Dennis Uy, said Mislatel "will work hard for better, cheaper telecommunications."

"This is just the start of our collaboration here," said China Telecom chairman Yang Jie.

Acting DICT Sec. Eliso Rio said the submarine facilities could be used by other telcos, not just Mislatel.

Mislatel secured "provisional" third telco rights on Nov. 7 after regulators disqualified its 2 rivals, Philippine Telegraph and Telephone Corp or PT&T and Sear, which includes former Ilocos Sur Gov. Luis "Chavit" Singson.

Mislatel pledged to provide 27 mbps on its first year and 55 mbps on its second year, bringing internet speed close to that in Singapore.

-- report from Warren de Guzman, ABS-CBN News