Udenna Corporation, Chelsea Logistics Holdings Corporation, and China Telecommunications Corporation (Chinatel) has formalized through an investment agreement to develop and operate the Philippines’ third telco, Mislatel.
Signed on April 25, 2019, the agreement reiterates the group’s commitment to provide better telecommunication services in the Philippines.
Previously, the three corporations has invested PhP 279 billion in Mislatel when the latter was declared as the new major player by the National Telecommunications Commission’s New Major Player Selection Committee last November 7, 2018.
Present at the signing in Beijing, China were several business leaders from Philippines, China, and within the Asian region at The Second Belt and Road Forum for International Cooperation (BRF). The BRF aims to have global connectivity through infrastructure, facilitation of free trade, financial integration, and people-to-people exchanges.
“This is a historic occasion,” said Udenna Chairman Dennis Uy. “This is another step forward in realizing Udenna’s vision to improve the lives of Filipinos. Everything that we do is about making lives better not just for this generation, but for the next generation. And that is happening here. Thank you to our partners and to all for being a part of this journey.”
