je.st
news
Telstra, San Miguel end talks on Philippines joint venture
2016-03-14 08:39:00| Telecompaper Headlines
(Telecompaper) Telstra and San Miguel have ended talks on a possible joint venture in the Philippines mobile market. The two started talks last year but said they were unable to reach a commercial arrangement on the investment plans. "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," Telstra CEO Andrew Penn said in a statement. Telstra has offered to continue technical network design and construction consultancy support to San Miguel, should it decide to go ahead alone with the plans. Telstra said it will also continue to look at investments in Asia, "guided by our capital management framework", in order to support earnings growth and shareholder returns. The Australian company had considered investing up to USD 1 billion in the Philippines joint venture.
Tags: end
san
joint
philippines
Category:Telecommunications