After buying a 40% stake in Eastern Telecommunications Philippines earlier this week, the company is now looking to acquire another local operator, Express Telecommunications (Extelcom), TeleGeography wrote.
According to the website, Extelcom is…
After buying a 40% stake in Eastern Telecommunications Philippines earlier this week, the company is now looking to acquire another local operator, Express Telecommunications (Extelcom), TeleGeography wrote.
According to the website, Extelcom is currently struggling with debts of about Rp9bn (US$1m).
In recent months, San Miguel, the Philippines’ largest food, beverage and packaging company, has expanded its presence in the telecom sector.
Besides its recent move for Eastern Telecom, it increased its stake in local telco Liberty Telecom from 33% to 41.48% back in November.
Before that, in August, it bought Bell Telecommunication Philippines for an undisclosed sum.
