Shares of PLDT, Inc. fell last week after the government disclosed that more foreign telecommunication companies are seeking to enter the Philippine market, raising concerns about stronger competition, according to BusinessWorld .
The development comes as the Philippine government continues efforts to liberalize the telecommunications sector, which has long been dominated by PLDT and Globe Telecom. The potential entry of new foreign players could intensify competition and pressure margins for incumbents.
PLDT's share price decline reflects investor sentiment that increased competition may lead to lower market share and profitability. The company has not issued an official statement regarding the matter.