Capitol, 2 telco giants agree on settlement
CEBU, Philippines — The Cebu provincial government and two giant telecommunication companies are set to enter into a memorandum of agreement to finally settle Capitol’s demand for payment of the properties the companies have encroached along Osmeña Boulevard in Cebu City.
Executives of Globe Telecom and PLDT have agreed to pay the amount the provincial government of Cebu is demanding as compensation for the use of its properties since 1996 to 2014.
The final agreement was reached upon during a meeting between Cebu Governor Gwendolyn Garcia and GLOBE’s external affairs director Patrick Gloria on July 17. Representative from PLDT was not around during the meeting but it has earlier signified its intention to pay to the Capitol.
According to Sugbo News, the signing of the memorandum of agreement is set next month. The Capitol demanded compensation from the telecommunication companies after learning that cable lines have encroached province-owned properties along Osmeña Boulevard.
The Capitol is asking for the rent of these facilities from the date of the encroachment. — (FREEMAN)
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