MANILA, Philippines – Bayan Telecommunications Inc. (Bayantel) was allowed by the rehabilitation court in Pasig City to share its frequencies with Ayala-owned Globe Telecom Inc.
“The court notes the manifestation filed by Bayantel and the provisional approval of the NTC of the joint use of the subject assigned frequencies and confirms such joint use of said assigned frequencies by Bayantel and Globe,” the court stated in an order dated February 25.
The National Telecommunications Commission (NTC) allowed Bayantel to share its frequencies with Globe last September on condition that it would secure the approval of the rehab court within 60 days.
The regulator said the joint use of frequencies by telco firms would decongest their networks and address consumer complaints on dropped calls, delayed text messages and poor signal.
Aside from Bayantel and Globe, NTC also allowed Smart Communications Inc. and sister firm Smart Broadband Inc. to jointly use frequencies.
Globe is looking to acquire Bayantel in the first quarter of 2013 after successfully buying out 96.5% of the Lopez firm’s creditors.
Bayantel has reportedly settled a total of P8.19 billion in debt since it filed for corporate rehabilitation in 2004. In the first 9 months of 2012, the company paid P908.3 million worth of debt. It intends to settle its outstanding debt by 2023. – Rappler.com
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