Telstra No More in Philippines: Netizens Reacts

Philippine telcos leap as Telstra, San Miguel scrap JV talks. In other news, Telstra has abandoned talks with San Miguel Corp about possible opening here in the Philippines.
Telstra Corporation Limited is Australia's largest telecommunications and media company which builds and operates telecommunications networks and markets voice, mobile, internet access, pay television and other entertainment products and services.


How sad. My Telstra dreams are broken. Any other real competitor there who can provide 90% reliability with speed that's worth the value?

The scrapping of a planned joint venture between conglomerate San Miguel Corp. and Australia's Telstra Corp. Ltd. has not changed the business landscape of the telecommunications industry, Globe Telecom Inc. said on Monday.

"This new development about Telstra ending its plan of entering the Philippine market doesn’t change anything as regards to our business direction," the telco said in an emailed statement.

According to GMA News, Shares prices surged on the Philippine Stock Exchange during the morning trade after conglomerate San Miguel Corp. (SMC) revealed that talks with Australia's Telstra Corp. Ltd. have bogged down over the equity structure of the joint venture.

"It's definitely positive for PLDT and Globe as it delays the entry of a third player, limiting the competition in the industry," said Lexter Azurin, head of Equity Research Group at Unicapital Securities Inc.
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