Metro Manila (March 17) — The Senate on Wednesday approved on second reading a bill extending the franchise of third telco player Dito Telecommunity by another 25 years.
The current franchise of the company, formerly known as Mindanao Islamic Telephone Company or Mislatel, expires on April 24, 2023.
House Bill 7332 requires Dito to offer at least 30% of its outstanding stocks to Filipino citizens. It also requires the company to submit an annual report to Congress on its compliance to the terms of its franchise. Failure to do so will result in a ₱1-million fine for each day it fails to submit a report.
The telecommunications network passed its first technical audit in February and initially launched its mobile services in select areas in the Visayas and Mindanao earlier this month.
The new player has vowed to provide an average broadband speed of 27 Mbps, covering 37% of the country's population for its first year of operations.
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