CONVERGE ICT Solutions, Inc. and DITO Telecommunity Corp. have agreed to mutually use their facilities and resources to help improve internet services in the country.
The two telcos recently signed a Materials Facilities Provisioning Agreement, which serves as a framework for collaboration on the sharing of submarine fiber optic cable assets.
“We want to leverage our respective existing facilities through this resource sharing agreement to bring us closer to our goal of empowering every Filipino home with quality broadband connectivity,” Dennis Anthony H. Uy, chief executive officer of Converge, said in a media briefing on Thursday.
“Our collaboration will allow us to reach more customers and deliver a better service with increased resiliency.”
Mr. Uy, however, did not identify the areas or assets included in the collaboration.
“Under the spirit of forging alliances and healthy competition, this agreement is a testament to both our organizations’ shared commitment to provide the best user experience that our customers deserve — whether consumer or enterprise,” said Ernesto R. Alberto, chief executive officer of DITO Telecommunity.
In 2023, total fiber assets of Converge has reached a span of 682,000 fiber kilometers with its household coverage covering 62.3% in the Philippines.
Further, DITO Telecommunity said it has more than 7,000 sites in over 850 cities and municipalities in the country.
At the stock exchange on Thursday, shares in DITO CME closed one centavo or 0.42% higher to end at P2.40 apiece, while shares in Converge ICT gained 14 centavos or 1.55% to end at P9.20 each. — Ashley Erika O. Jose