They decided not to bid in the last minute
Just minutes before DICT starts the bidding process for the Third Telco player, Converge decided to back out on the last minute, in spite of submitting bid documents.
Statement of Converge and KT Corp on their non-participation in the third telco bidding pic.twitter.com/rfjiUuePRi
— Bim Santos (@josebimbosantos) November 7, 2018
In a statement, Converge said that “the conditions imposed for participation render the venture commercially unviable.”
In a report by GMA News, they said that there is no level playing field in today’s bidding. Regardless of their decision, Converge stated that they are open to engaging in a business transaction with the winning bidder since they already have the infrastructure.
Because of the developments, there are only three companies vying to be the third Telco player: PT&T, LCS-TierOne consortium, and Mislatel Consortium (Udenna-Chelsea-China Telecom).