ZDNet — Telstra has cited the lack of an acceptable “risk-reward balance” as the reason for abandoning negotiations with Filipino giant San Miguel Corporation over a $1 billion equity investment in a wireless joint venture in the Philippines.
SBS — Telstra has abandoned talks with food and beer giant San Miguel about setting up a third mobile operator in the Philippines, but vows to continue its pursuit of growth opportunities in Asia. Australia’s biggest phone and internet provider, which announced the talks in August, was looking to invest up to $US1 billion ($A1.33 billion) in the proposed wireless joint venture in the Philippines, which has one of the lowest mobile network speeds in the world.
Business Mirror — DESPITE the headwinds that the telecommunications industry will face this year, the overall outlook for the sector remains bright. Consumers, in particular, will likely benefit from the possible entry of a new market player that promises to provide Internet services with better quality than the incumbents.
Telecom Asia — Telstra announced last week that it was in talks with San Miguel Corporation (SMC), a food and beverage company and the largest conglomerate in the country, on a possible joint venture to offer wireless telecommunications services in the Philippines. While this by no means should be seen as the solution to the laggard performance of Philippine internet, this partnership could serve to reinvigorate the telecom market and give the Filipino consumer a third choice.