Philippine fiber broadband provider Converge ICT Solutions Incorporated said on Monday, February 15, it is holding talks with Elon Musk’s SpaceX on a potential broadband satellite venture in the Southeast Asian nation.

In a stock exchange disclosure, Converge said it is looking at satellite technologies, including that of Space Exploration Technologies Corporation, to provide high-speed internet to remote Philippine locations.

“However, it is still very premature to talk about a possible partnership between Converge and SpaceX at this stage,” it said, confirming news reports over the weekend.

SpaceX did not immediately respond to an emailed request for comment.

Converge’s shares surged as much as 20% in early trade. – Rappler.com