PLDT unfazed by SMC-Telstra venture
Philippine Long Distance Telephone Co. is unfazed by San Miguel Corp.’s move to team up with the largest telecommunication company in Australia.
PLDT chairman Manuel Pangilinan told reporters his company would not revise its business strategy despite the entry of Telstra Corp. in the Philippines through a partnership with San Miguel.
“We just have to deal with it when they come. It’s anticipated that San Miguel will do it wether with Telstra or another partner,” he said.
Pangilinan said PLDT’s strategy would depend on “how they [SMC and partner] behave to get market share.” At present, PLDT’s mobile phone market share in terms of subscribers stood at about 57 percent, while Globe Telecom has 43 percent.
Last month, Telstra confirmed it was in talks with San Miguel to invest in a wireless joint venture. Telstra chief executive Andy Penn earlier described Asia as a key part of his growth strategy. The Australian firm spent $697 million last year to buy Pacnet Ltd. to gain access to its undersea cables connecting Asia and the Pacific.