‘Telcos expansion to spur competition’

Fitch Ratings Inc. (Fitch) has predicted intense competition in the country’s telecommunication (telco) industry as Philippine Long Distance Telephone (PLDT) and Globe Telecommunications Inc. (Globe) are set to pursue aggressive expansion programs and increase their capital expenditures (capex).

“We believe domestic competition will further intensify in the next year due to PLDT’s aggressive strategy to acquire market share as it affirmed Globe’s long-term foreign and local-currency issuer default ratings at BBB,” Fitch said.