Former Governor Chavit Singson group of companies LCS assured the Filipino public that they will offer the lowest possible price of internet connection in the country.
During a press interview, Singson said that LCS Group have already signed an agreement with TierOne to buy an equity stake in an international broadband satellite operator to give way to the companies effort of acquiring its own satellite.
The move is the company's plan to become the third telco player in the country. Singson revealed as the chairman and president of the LCS Group of Companies said that the satellite will be launched in August or September next but declined to name the satellite provider.
Singson added that they will reduce the cost of internet connection of up to 95% compared to its competitors PLDT and GLOBE.
The group are planning to provide every Filipino a faster and full connectivity connections through out the country. The company could compete from the existing P100 price of connectivity to just P5, Singson noted.
Once granted by the government, at least 1.3 gigabits per second bandwith per transponder and could deliver a connectivity speed of up to 100 Megabits per second(Mbps).
Among those interested in the third telco slot are China Telecom, NOW Telecom, Philippine Telegraph, Telephone Co., Telenor Group and Udenna Corp and two others, GMA reported.
The bidding proper is scheduled on November 7.
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