Amid the growing online buzz, Converge ICT said it’s still “very premature” to talk about a joint deal involving Space Exploration Technologies Corp. (SpaceX)—an aviation and aerospace company founded by business magnate Elon Musk.
The publicly listed broadband service provider issued the clarification to the stock exchange after two articles regarding its potential tie-up with SpaceX’s Starlink satellite broadband project circulated online.
Inquirer reported that “a source with direct knowledge of the matter” said the two firms “met on multiple occasions to discuss a potential venture.”
Another report published on Bilyonaryo cited a source saying "negotiations between Converge and SpaceX, facilitated through the United States embassy, have ramped up in the past few weeks as the two parties move closer to a deal.”
Converge told the stock exchange that they are consistently exploring new technologies aimed at bringing high-speed internet services to the country.
“The latest satellite technologies, including that of Space Exploration Technologies Corp. (SpaceX), are among those new technologies being explored by Converge to bring high-speed broadband to far-flung areas in the country,” the company wrote.
They clarified, however, that “it is still very premature to talk about a possible partnership between Converge and SpaceX at this stage as suggested in the abovementioned news reports,” they continued, assuring that “it will promptly make the necessary disclosures should there be any material developments in its exploratory talks with possible partners.”
In January, Senator Koko Pimentel revealed he took part in a virtual meeting with a SpaceX representative. He also noted that SpaceX “will be a valuable added platform to connect many Philippine communities, businesses, and consumers with high-speed, reliable broadband, and that the Philippines will hopefully be covered by its system in the third quarter of 2021.”
Article thumbnails from Converge.com and instagram.com/elonrmuskkk