“We currently have 400 cell sites and we intend to establish at least 200 more cell sites in the city,” Liberty Telecoms chairman Ramon Ang said in the annual stockholders’ meeting Tuesday.
He said each cell site would require an investment of at least $200,000.
The company obtained a P1.1-billion short-term loan from a local bank to fund its working capital, capital expenditures and operational expenses.
Liberty Telecoms had drawn P500 million from the loan as of end-March, raising its liabilities by 29 percent to P2.45 billion.
Liberty Telecoms currently has over 48,000 subscribers. “We hope to get much more,” Ang said, adding that the target was to double its subscriber base by the end of the year.
He said Liberty Telecoms would stay with the current business model that offers purely mobile broadband. He added the decision to stay in Mega Manila and other key cities was part of the strategy in penetrating the telecommunications market.
Meanwhile, Ang said the acquisition of Digital Telecommunications Philippines Inc. by Philippine Long Distance Telephone Co. “is good for the both of them.”
He said despite the merger of two big companies, Liberty Telecoms was still determined to enter the market. “I think it is good for the consumers to have a third player. And we are that third player,” Ang said.
