Spectrum assets no longer with Tori Spectrum

WE WOULD like to clarify the Biz Buzz item titled “Fair pricing” (Business, 8/22/16), which made reference to the radio frequency assignment of Liberty Telecoms Holdings thus: “It may be very low or very high but minority shareholders will get the equivalent value for their shares in Liberty, which owns the majority of the coveted 700 Mhz broadband frequency.”

Allow us to point you to the filed SEC 20-IS of Liberty Telecoms Holdings Inc. (LTHI), page 33, under Status and Plan of Operation. It indicates that, “The National Telecommunications Commission (NTC) approved on 17 March 2015 the assignment of all radio frequencies to BellTel for the spectrum… previously assigned to Tori Spectrum.”

LTHI being a holding company does not have any franchise to operate a telecommunications business. The franchise belonged to Liberty Broadcasting Network Inc. (LBNI), a wholly owned subsidiary of LTHI which was renamed Wi-Tribe, and now known as Tori Spectrum.

As mentioned above, the reassignment of frequency meant that these spectrum assets are no longer with Tori Spectrum (previously LBNI).

We hope this clarification will eliminate any misconceptions about the assignment of spectrum assets under LTHI.

—YOLY CRISANTO,

SVP for Corporate Communications,

Globe Telecom