Duterte okays franchise of Villar-owned telco, Streamtech
PRESIDENT Rodrigo Duterte has approved the franchise of the Villar-owned Streamtech Systems Technologies Inc. to provide nationwide telecommunications services.
The President signed Republic Act No. 11089 on Oct. 18, 2018, allowing Streamtech “to construct, install, establish, operate and maintain telecommunications systems throughout the Philippines.”
“The franchise shall be in effect for a period of 25 years,” the law said.
The Villar family, known for real estate development, was looking for prospective partners in its bid to be the country’s third telco player.
“The family is looking seriously at getting involved in the telecom side. When I say seriously, it’s possibly a national involvement,” Manuel Paolo Villar, company president of Vista Land & Lifescapes (VLL) said.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
