MANILA - The deal between Converge ICT and DITO Telecommunity will result in better prices for their subscribers, an official of DITO said on Thursday.

Converge and DITO recently signed a Master Facilities Provisioning Agreement (MFPA) that will allow the two companies to share select terrestrial and submarine fiber optic cable assets.

DITO Chief Revenue Officer Adel Tamano said the deal will save the two telco players time and money.

"It will mean better prices. It will mean better connectivity and redundancy," Tamano said.

He explained that if either party's fiber line is cut, they can rely on the other's line to keep services up.

DITO is looking to spend P30 billion on capital expenditures this year to further expand and improve its network, Tamano said.

The telco is aiming to break even next year and turn a profit by 2028.

• DITO launches new business unit, eyes SMEs, LGUs
• Converge eyes tapping marginalized households with P888 'budget-friendly' fiber plan