Nynex Joins Filipino Telecom Consortium
MANILA, Philippines (AP) _ Nynex Corp. has joined a new consortium that plans to invest $650 million in telecommunications projects in the Philippines over the next three years, it was announced Thursday.
The partnership with Telecom Holding Co. of Thailand and Benpres Holdings Corp. of the Philippines will help pay for projects undertaken by Benpres’ Bayan Telecommunications unit, Benpres president Eugenio Lopez Jr. said.
Lopez said the investment will finance a nationwide telephone network, installation of 300,000 phone lines and an international phone exchange.
In addition to money, Nynex will provide technical expertise, he said.