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Philippines' new China-led telecom firm surges after Duterte's 'chilling' threat
July 27, 2020 10:13 PM EDTBy Neil Jerome Morales and Karen Lema
MANILA (Reuters) - Shares in a new Philippine cellphone firm owned jointly by state-run China Telecom and a tycoon close to President Rodrigo Duterte soared on Tuesday, a day after the firebrand leader threatened to shut down its two rivals.
DITO CME , a holding company for new operator, DITO Telecommunity, jumped nearly 11% compared to falls of over 3% for PLDT (NYSE: TEL) and Globe Telecom (NYSE: GLO) - whose billionaire owners Duterte has repeatedly attacked for being "oligarchs", threatening state... More
Philippine leader threatens closure or government takeover of 'lousy' telecom firms
July 27, 2020 5:15 AM EDTMANILA (Reuters) - Philippine President Rodrigo Duterte on Monday threatened the closure or government expropriation of telecoms firms for what he called "lousy" services, and gave providers until December to improve.
"Improve services lest we be forced to take drastic steps," he said during his state of the nation... More
