This is just in.
We got the official letter from Converge saying that they are not bidding in the selection for the Third Telco in the Philippines.
In the statement, Converge, TelTech and KT Telecoms said that the market and industry outlook was financially viable.
But the conditions imposed for participation render the venture commercially unviable.
So, who will be the real Third Telco?
Only PT&T (Philippine Telegraph and Telephone Corp.), LCS-TierOne consortium of Chavit Singson, and Mislatel consortium (Udenna Corp. and China Telecom) submitted the bid.