DITO Telecommunity Corp plans to invest PHP50 billion (USD981 million) in capital expenditure projects this year as it continues the rollout of its networks to meet the terms and conditions of its licence award.
In the wake of the disappointment of its parent company’s deferred rights offer – last week controlling shareholder DITO CME Holdings ditched its stock rights offer citing unfavourable market conditions – the third telco’s chief administration officer Adel Tamano confirmed the newcomer is ‘fully-funded for the rest of its commitment period as it had already secured loans and equity’. The CAPEX will be used to ensure that the company hits its mandated target of at least 70% population coverage by end-2022; DITO’s current coverage is around 64%-65%.
Chief Technology Officer Rodolfo Santiago added: ‘I keep saying we are very confident we can achieve the 70% population very early – probably May or first week of June – we can already achieve the 70% to prepare ourselves for the conduct of the third technical audit’.
Source: https://www.commsupdate.com/articles/2022/02/04/dito-pledges-usd981m-capex-in-fy22/