The competition is about to heat up after the country’s third telco took rival PLDT Inc.’s former top honcho on board .
Former PLDT Chief Revenue Officer Ernesto “Eric” R. Alberto, once touted as a possible successor to President Manuel V. Pangilinan before resigning in 2019, has just finished the one year prohibition for joining a competing firm this month.
He took the post of DITO CME’s independent director in last Tuesday’s (July 28, 2020) online stockholders’ meet which was declared off-limits to the press.
Alberto’s defection to DITO came in the wake of the company’s move to boost its capital, from P2.8 billion to P40 billion.
DITO CME will own indirect interest in DITO Telecommunity, the holder of the third telco franchise, as soon as the former executes the transfer of documents and obtains the needed governmental approvals.
The increase in authorized capital stock tabled during this week’s stockholders’ meeting was the same increase approved in December, 2019 to ensure that the corporation has sufficient capital stock to successfully inject interest in DITO Telecommunity.
So far, DITO reported it is on track to meet its commercial roll-out target on March, 2021, according to DITO Telecommunity Chief Administrative Officer Atty. Adel Tamano.
‘Furthermore, DITO is currently working on meeting the 27mbps and 37-percent coverage in time for the government technical audit on January, 2021,” he disclosed.
“As DITO Telecommunity hastens its roll-out in time for March, 2021, let me assure the Filipino people that we recognize the clamor for the third major telco to already go on-air,” Tamano acknowledged.
“DITO is doing all it can to work through the challenges, move forward, and launch soonest.”
Last year the National Telecommunications Commission awarded DITO Telecommunity Corporation, formerly known as Mindanao Islamic Telephone Company, Inc. (MISLATEL) a Certificate of Public Convenience and Necessity as the country’s third telco player. DITO is a Filipino consortium that includes Udenna Corporation, Chelsea Logistics and Infrastructure, and China Telecommunications Corporation.