Philippines Telcos: Waiting for a Third Operator, or Not.

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Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

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Equity Bottom-Up

The Philippines is one of the few markets with zero tower sharing in Asia. This is what TowerXchange had to say in December 2017, <blockquote>There are currently no independent tower companies in the Philippines. The glass ceiling on tenancy ratios created by the market structure (...duopoly) means towercos are unlikely to prioritize the country, despite its scale (&gt;100m subscribers)...</blockquote>However, the Philippine government is keen to see a third operator enter the market to energize a telco sector badly…

The Philippines is one of the few markets with zero tower sharing in Asia. This is what TowerXchange had to say in December 2017, There are currently no independent tower companies in the Philippines. The glass ceiling on tenancy ratios created by the market structure (...duopoly) means towercos are unlikely to prioritize the country, despite its scale (&gt;100m subscribers)...However, the Philippine government is keen to see a third operator enter the market to energize a telco sector badly…

Globe Telecom: Tower Sharing Comes to the Philippines