Fashion
The Philippines’ PLDT has announced that wireless subsidiary Smart has secured a 25-year extension to its franchise.
President Rodrigo Duterte has signed into law a new Act that effectively extends Smart’s franchise until 2042.
The franchise allows Smart to deploy, maintain, lease and operate integrated domsetic and international telecommunications services nationwide.
New details have also reportedly been added to ensure Smart receives equal access to any future incentives granted to new players in the market and to exempt the operator from paying duties or taxes on telecoms equipment.
The extension will take effect 15 days after publication of the franchise law in a newspaper of general circulation, something PLDT said it intends to effectuate.
As half of the Philippines’ duopoly of mobile operators, PLDT’s Smart is a major player with around 63 million mobile subscribers as of the end of last year.
But the Philippines has long been seeking to have a third player enter the market to enhance competition, and is planning to conduct a spectrum auction open only to potential new market entrants later this year.
Rival operator Globe Telecom’s current concession runs until 2030.
