<article>China Telecommunications Corp. is poised to invest in the Philippines after President Rodrigo Duterte invited China to enter the Southeast Asian country and challenge local phone carriers PLDT Inc. and Globe Telecom Inc.</article>

China Telecommunications Corp. is poised to invest in the Philippines after President Rodrigo Duterte invited China to enter the Southeast Asian country and challenge local phone carriers PLDT Inc. and Globe Telecom Inc.
The Chinese government, which controls its phone carriers, picked China Telecom to be the one entering the Philippines, Communications Secretary Martin Andanar said Sunday, citing information from a cabinet meeting last week. China Telecom will have to look for a local partner with an existing franchise and a significant presence in the Philippines, Andanar said.
Shares of PLDT and Globe fell as Duterte, who has sought warmer ties with China amid a South China Sea territorial dispute, pushes through his pledges to open the phone market. For China Telecom, entering the Philippines would help the company expand into one of the fastest-growing economies in Asia.
Philippine Telegraph &amp; Telephone Corp. said last month that it’s in partnership talks with China Telecom, China Mobile Ltd. and other Chinese companies. China Telecom didn’t immediately respond to requests for comment.
PLDT fell 3 percent, the biggest drag in the benchmark Philippine Stock Exchange Index, on Monday, while Globe Telecom slid 1.7 percent, heading for its lowest close since Feb. 7.
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Bloomberg

For China Telecom, entering the Philippines would help the company expand into one of the fastest-growing economies in Asia.

China Telecom poised for Philippines foray, could become country's third carrier

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China Telecom poised for Philippines foray, could become country's third carrier

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