Qatar Telecom has said it is in talks with San Miguel Corp. (SMC) to expand its telecommunications venture in the Philippines and wants to hike its stake in Liberty Telecom Holdings Inc.
"We are exploring more business with San Miguel in the telecom sector, not only in the mobile business but other techology. We should not limit our vision to voice only. We are in discussion. Hopefully, we see that this year," Sheikh Abdullah bin Saud Al-Thani, Qtel chairman, told reporters at the sidelines of the Philippine Business Conference at Manila Hotel on Wednesday.
Al-Thani said his company plans to invest more not only in broadband but also in Global System for Mobile Communications (GSM) and Long Term Evolution (LTE).
LTE is the the next-generation network beyond 3G (third generation).
"My vision for the Philippines is not how big or how small. My understand for the Filipino market is that I know that it is a growing market. It is a market where I think its the future. The Philippines is one of the most important countrries in Asia," Al-Thani said.
QTel has presence in 17 countries and is committed to expand both in the Middle East and North Africa region and Southeast Asia.
Al-Thani also said that his company wants to increase its stake in Liberty Telecoms up to 40 percent.
At present, QTel, through its subsidiaries Wi-Tribe Asia Ltd. and QTel West Bay Holdings Inc., acquired 32.65 percent of Liberty Telecoms.
Wi-Tribe owns 5.9 percent of Liberty shares while QTel West Bay owns 26.75 percent shares.
"Whatever the rules allow us to own in the Philippines will work around that," Al-Thani said.
SMC, through Vega Telecoms Inc., owns 39.3 percent of Liberty and has disclosed that it would buy up to 49 percent.
Liberty, which is under rehabilitation, recorded a net loss of P411.28 million, higher than last year's P212.46 million.
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=33227.0
