Philippine telco Multimedia Telephony Inc (MTI) has acquired the “wireless landline” assets of rival Bayantel Telecommunications (Bayan), according to the Manila Times.
MTI was quoted saying that the transaction would not lead to a broader merger, and…
Philippine telco Multimedia Telephony Inc (MTI) has acquired the “wireless landline” assets of rival Bayantel Telecommunications (Bayan), according to the Manila Times.
MTI was quoted saying that the transaction would not lead to a broader merger, and did not involve any 3G frequencies. It did not specify the value of the transaction.
Bayan and MTI both use CDMA technology.
As part of its debt rehabilitation programme, underway since 2004, Bayan has reportedly paid off P6.06bn of its P15bn debt pile via quarterly instalments.
Neither company could be reached by press time.
