Competition prods PLDT to boost capex

In a move to boost its network, PLDT Inc. plans to set higher capital expenditures (capex) for next year ahead of the expected entry of China Telecom as the Philippines’ third telecommunications player.

PLDT Chairman Manuel V. Pangilinan told reporters on Wednesday that the company was eager to do this, after exceeding this year’s full-year capex guidance of P38 billion to “north of P50 billion,” which he described as “historic.”