Conglomerate San Miguel Corporation (SMC), led by billionaire Ramon Ang, has plans to start its own mobile telecommunications business this year, marking the possible entrance of the countryâ€™s fourth telco player.
In disclosure to the Philippine Stock Exchange, San Miguel confirmed a statement made by Ang for Inquirer.net last year about the opening a mobile phone service this year. Details are tight under wraps but the company said it is currently building a network of cell site across the country.
The Philippines telco industry in is currently dominated by Manny Pangilinanâ€™s PLDT and Jaime Zobel de Ayalaâ€™s Globe Telecom. PLDT is the parent company of Smart Communication, Sun Cellular and Talk N Text.
SMC-branded telco joins new-comer ABS-CBN mobile, the telco foray of media giant ABS-CBN Corp. The latter was first announced in May involving a $3 billion network sharing deal between ABS-CBN Convergence and Globe in an attempt to become â€śthe largest media and entertainment conglomerate.â€ť