TransCo to enter telecoms business

The National Transmission Corporation (TransCo), a Philippine government controlled corporation, has announced that it is venturing into telecommunications in addition to its power generation business.

In a report by Manila Bulletin, “TransCo President Melvin A. Matibag told reporters that he will pursue these business interests for the state-owned firm by seeking a new Charter for TransCo that shall be detached from the Electric Power Industry Reform Act (EPIRA) – and subsequently, it shall rename the company into National Transmission and Telecommunications Corporation.”

TransCo plans to engage in ‘broadband venture’ to improve the country’s internet connectivity.

“The mere fact that big telco companies like Globe and Smart are co-locating in our transmission facilities, it seems the idea will fly and I want to make sure that it will really fly because the country needs it – it will address a lot of things: To address problems of the Internet and with telecommunications, the earnings of DUs (distribution utilities) to lower the cost of electricity and at the same time, the government will generate income,” Matibag said.

Hit the source link below for the full report.

source: Manila Bulletin