Cisco, Huawei, and Ericsson have all been asked to take a hit after a Filipino telco blew its budget by a whopping $880 million and blamed it on bad procurement processes.
This story starts in late 2022 when Filipino telco PLDT issued a press release describing the success of a multi-year program to transform its core networks, lay plenty of fresh fiber optic links, build submarine cables, and create a 5G network.
All of which sounded great, except the telco also detected a "cost overrun" of ₱48 billion ($880 million), or about 20 percent of annual revenue, in commitments made
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