San Miguel Cor. and Telstra End Talks for Telco Partnership

 

Highlights:
Inquirer: SMC president and COO Ramon Ang told the Inquirer Sunday night that ““both SMC and Telstra worked hard to come up with an acceptable resolution to some issues.”
“However, we agreed we can no longer continue with the talks,” he said. “I believe this is best for all parties.”

“We are not rushing,” he (Ramon Ang) said. “What’s important is that we give Filipinos a third and better choice that they have been deprived of for the longest time.”

ABC Australia: Negotiations between Telstra and San Miguel Corporation to build a new mobile network in The Philippines have broken down.

Telstra’s chief executive officer, Andrew Penn, said the organisations had agreed at the weekend to bring negotiations to an end.

“Despite an enormous amount of effort and goodwill on all sides, we were simply unable to come to commercial arrangements that would have enabled us all to proceed,” he (Andrew Penn) said.

“While this opportunity is strategically attractive, and we have great respect for San Miguel Corporation and its president, Mr Ramon Ang, it was obviously crucial that the commercial arrangements achieved the right risk-reward balance for all involved.”

References
http://www.abc.net.au/…/telstra-san-miguel-philippi…/7243934
http://business.inquirer.net/…/smc-telstra-end-talks-for-te…

 

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