Globe, PLDT agree to reduce voice interconnection fees
Globe Telecom has signed a memorandum of understanding with Philippine Long Distance Telephone (PLDT) to reduce interconnection fees for voice calls following government pressure.
Calls between the two rivals will be reduce from P4 per minute to P2.50 per minute from 1 January 2017, according to officials.
The signing is believed to have been overseen by the Department of Information and Communications Technology and the National Telecommunications Commission.
It follows pressure from the Philippines government, with president Rodrigo Duterte last week warning he will open up the telecoms sector to foreign investment in order to “promote competitiveness”.
In May, Globe and PLDT partnered up to buy the assets of Vega Telecom, in a deal worth $1.5 billion. The deal meant the two operators split the spectrum assets of the San Miguel owned Vega, and came just months after Telstra ended talks about launching a joint telecoms venture with the food and drinks giant.