San Miguel Telecoms ? Why not!

Apparently, while to whole world is experiencing the economic crunch, San Miguel Corporation -- the largest food and beverage manufacturer in South East Asia -- decided to go on a corporate shopping spree; buying a substantial stake in Petron Corporation and partnering with Qatar Telecom to start its wireless broadband line.

Quoting a statement released by San Miguel : “San Miguel believes that the Filipino consumer will be the ultimate beneficiary of its intended investments since customers will now have access to a reliable service provider offering affordable high-speed wireless broadband and communication solutions,"

Probably unsatisfied with its partnership with Qatar Telecom, it is rumored that San Miguel also plans to purchase a stake in Bayan Telecommunications Inc. (BayanTel) - a company that suffered P2.57-billion aggregate loss from January to Semptember this year.

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