Bayantel optimistic on change


Bayan Telecommunications Inc. (Bayantel) is confident that the National Telecommunications Commission will allow Globe Telecom to convert its loan to equity to complete its rehabilitation.

Globe will be the majority owner of Bayantel. Globe and Bayantel have jointly filed in 2013 with the NTC a petition asking to approve its debt-to-equity transaction which both firms entered into when the former acquired a sizable portion of the latter’s debt from its creditors.

The Bayantel COO further said the approval of the NTC of the transaction will strengthen Bayantel’s company’s position as a viable player in the rapidly evolving telecommunications industry, making the environment more competitive in the process.


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