Metro Manila (CNN Philippines, May 6) — The Philippine Telegraph & Telephone Corp. (PT&T) will put up a national wi-fi service with a Chinese partner.
READ: 19 business deals signed during Duterte’s trip to China
In a disclosure on Monday, the listed telecommunications firm said its chairman Salvador Zamora II signed a $500-million deal with China’s CITIC Networks Co. Ltd. to roll out wi-fi internet connection, digital television, and satellite network services covering the whole country.
Zamora through his holding company Tranzen Group, Inc. signed the memorandum of understanding with Citic’s Luo Ning last month in Beijing, forming part of the over $12-billion business deals fetched during President Rodrigo Duterte’s latest visit to the Mainland.
The agreement covers building infrastructure for a nationwide wifi network, to be implemented by PT&T.
Also signed during the recent China visit is the $5.4-billion investment of China Telecommunications Corp. with Udenna Corp. to develop the Mindanao Islamic Telephone Company as the Philippines’ third telco player.
PT&T, which provides a full fiber-optic network for Internet services, once vied to be the third player to disrupt the Globe and Smart duopoly in the telecommunications market.
CITIC is known as an information technology firm in China.
