Telstra breaks off talks with San Miguel

Telstra chief executive Andy Penn had only recently said the telco was working hard to lock in the deal with San Miguel. [Photo: Louie Douvis,]

by Kyla Camille |

Looks like the continuing saga of looking for a reliable and fast data provider is over for now.

Telstra, the Australian telco provider who was reported to be in partnership talks with San Miguel Corporation has broken off the the negotiations.

In a press release, Telstra and SMC were not able to reach commercial arrangements on a possible equity investment in a wireless joint venture in the Philippines.

“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,” Mr Penn said.

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

With this development, Globe (and PLDT) has called for the distribution of the 700Mhz bandwidth that SMC holds since it seems that the beer conglomerate will not be able to use it anyway.

But San Miguel’s president and CEO, Ramon Ang, said that with or without a partner, their plans will proceed.