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PH new DITO Telecom says it has enough resources to challenge PLDT and Globe


New Philippine telecom DITO Telecommunity has "enough" resources to fund its challenge to PLDT Inc and Globe Telecom said DITO Chief Administrative Officer Adel Tamano.


DITO Telecommunity has acquired fresh funding from the Bank of China to cover requirements in its first year of operation in the country.

Dennis Uy's Udenna Corp, Chelsea Logistics and state-run China Telecom, drew P25.3 billion from its loan facility seeking to build 1,600 towers. Currently, DITO already constructed 600 towers.

"There are rumors that we don’t have resources for the rollout. We have drawn down $500 million facility from the Bank of China…This is enough for the first year requirement for the rollout," Tamano said.

Pre-commercial tests will be made in September and if the results are positive the possibility of launching could be earlier than March next year.

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