Monday, January 30, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

SMC unit acquires Ongpin’s Extelcom

Darwin G. AmojelarbyDarwin G. Amojelar
July 14, 2015, 11:01 pm
in Business
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Conglomerate San Miguel Corp. has acquired a telecommunications company owned by the group of investment banker Roberto Ongpin in a bid to increase its presence in the sector.

San Miguel said in a disclosure to the Philippine Stock Exchange wholly-owned unit Vega Telecoms Inc. bought Express Telecommunications Inc. and Vega’s investment in High Frequency Telecommunications Inc.

Extelcom, owned by the Ongpin Group and UK-based Ashmore Investment Management Ltd., is the country’s first mobile telephone operator

San Miguel will now have four telecommunications companies under its portfolio, including Eastern Telecommunications Philippines Inc., Bell Telecommunications Philippines Inc. and Liberty Telecoms Holdings Inc.

San Miguel said Vega Telecom would also acquire the entire interest and participation of Qtel West Bay Holdings S.P.C., Wi-tribe Asia Ltd. and White Dawn Solution Holdings Inc. in Liberty Telecom Holdings Inc.

ADVERTISEMENT

San Miguel, through Vega, owns 41.48 percent of Liberty while Qatar-based telecom provider Qtel acquired a 27.12-percent stake through subsidiary Wi-Tribe.

The company said Vega would conduct a tender offer of the common shares of Liberty Telecoms held by the public in compliance with the Securities Regulation Code.

“The purchase of the shares of the sellers by Vega shall be subject to closing conditions, inclusive of the completion of the tender offer,” San Miguel said.

Astro del Castillo, managing director of First Grade Finance Inc., said the two transactions of San Miguel showed it was committed to be one of the major contenders in the telecommunication industry.

He said the prospects for San Miguel was still “good,” adding there was still room in the telecom industry.

“Another player would not hurt and it would benefit the consumers,” del Castillo added.

Liberty, which was out from corporate rehabilitation, aims to launch mobile phone services as early as January next year.

San Miguel’s Bell Telecommunications earlier said it concluded agreements with contractors and suppliers for the supply of various services, equipment and software related to the construction, operation and maintenance of a mobile telecommunications network.

BellTel said it would roll out its mobile network to become the fourth player in the mobile phone industry, after the PLDT Group (Smart and Sun Cellular), Globe Telecom Inc. and ABS-CBN Mobile.

BellTel said it integrated 197 base transceiver stations in the National Capital Region to its mobile telecommunication network. The National Telecommunications Commission issued 191 radio station licenses to BellTel.

“BelTel will be applying for additional RSLs as soon as more BTS are integrated into its mobile network and will launch services as soon as sufficient coverage for a commercial launch is achieved,” BelTel said

“Belltel has to date expended considerable capital in relation to the acquisition and construction of sites as well as the acquisition and installation of core and radio access network equipment and software,” it said.

ADVERTISEMENT
Darwin G. Amojelar

Darwin G. Amojelar

Related Posts

Toyota remained the top car seller for the third year

byAFP
January 30, 2023, 6:05 pm
0
8
Banaag assumes post as Bright Kindle director

TOKYO—Japan’s Toyota was the world’s top-selling automaker in 2022, retaining its lead over German rival Volkswagen for the third year,...

Read more

Qatar joins Lebanon-led consortium to explore for gas near Israel waters

byAFP
January 30, 2023, 6:00 pm
0
8
Banaag assumes post as Bright Kindle director

BEIRUT—Lebanon announced Sunday that Qatar had entered a consortium to explore for offshore gas in waters near Israel, following a...

Read more

San Miguel set to bag P27-b Cavite-Batangas Expressway

byDarwin G. Amojelar
January 29, 2023, 7:10 pm
0
8
Cavite invites challengers on SMC’s P27-b expressway

San Miguel Corp. is set to bag the P27-billion Cavite-Batangas Expressway Project, after the provincial government of Cavite said it...

Read more

New DBP president vows to support infrastructure development

byManila Standard
January 29, 2023, 7:05 pm
0
8
US trade shifts away from China but no ‘decoupling’ yet

A prominent and seasoned banker formally assumed the position as head of one of the largest government financial institutions in...

Read more

PH banks kept credit standards unchanged in Q4

byJulito G. Rada
January 29, 2023, 7:00 pm
0
8
Banaag assumes post as Bright Kindle director

Banks in the Philippines kept credit standards mostly steady in the fourth quarter of 2022 and expect to continue the...

Read more

Meralco, Panay Energy asked to justify supply deal termination

byAlena Mae S. Flores
January 29, 2023, 6:55 pm
0
8
ERC to study Ilijan plant’s offer to Meralco

By Alena Mae S. Flores The Energy Regulatory Commission asked Panay Energy Development Corp., owner of two coal-fired power plants...

Read more

Print Edition

View More

Recent Posts

  • Toyota remained the top car seller for the third year
  • Qatar joins Lebanon-led consortium to explore for gas near Israel waters
  • Globe logs over 11M prepaid SIM registrants, urges customers to register before April 26 deadline
  • Top Republican to meet Biden on avoiding US debt default
  • Columbia disaster that scuttled the space shuttle
  • ‘Drought’ has New Yorkers asking: ‘Where’s the snow?’
  • Russian shelling of Kherson leaves at least three dead
  • Israel punishes attacker’s family as violence rages

Advertisement

Latest News

‘Drought’ has New Yorkers asking: ‘Where’s the snow?’

byAFP
January 30, 2023, 11:00 am
0
8
‘Drought’ has New Yorkers asking: ‘Where’s the snow?’

By Peter Hutchison The idea of New York in wintertime conjures up images of Manhattan's Times Square and Central Park...

Read more

Russian shelling of Kherson leaves at least three dead

byAFP
January 30, 2023, 10:30 am
0
8
Russian shelling of Kherson leaves at least three dead

Russian shelling of Ukraine's southern city of Kherson left at least three people dead on Sunday, President Volodymyr Zelensky said,...

Read more

Israel punishes attacker’s family as violence rages

byAFP
January 30, 2023, 10:00 am
0
8
Israel punishes attacker’s family as violence rages

By Rosie Scammell Israel on Sunday prepared to demolish the east Jerusalem family home of a Palestinian man who killed...

Read more

Gandhi’s killer a hero to India’s diehard Hindu nationalists

byAFP
January 30, 2023, 9:00 am
0
8
Gandhi’s killer a hero to India’s diehard Hindu nationalists

By Jalees Andrabi Hindu fundamentalist Ashok Sharma has devoted his life to championing the deeds of an Indian "patriot": not...

Read more

Casualties as strikes hit convoy carrying arms into Syria: war monitor

byAFP
January 30, 2023, 8:00 am
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Air strikes destroyed a convoy of trucks that crossed into eastern Syria from Iraq on Sunday, a war monitor said,...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App