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Converge ICT says 'premature' to talk of deal with Elon Musk's SpaceX Starlink

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/business/02/15/dennis-uy-elon-musk.jpg"/><figcaption>Converge ICT played down reports that Elon Musk&#x27;s SpaceX and the Filipino-owned fiber network company are set to team up</figcaption></figure></div><p>MANILA - Broadband service provider Converge ICT on Monday played down reports that it was entering a deal with centi-billionaire Elon Musk&#x27;s firm SpaceX.</p><p>The Philippine Daily Inquirer and website Bilyonaryo.com.ph both published reports over the weekend saying Converge was in talks with Musk&#x27;s SpaceX to provide satellite broadband internet service to the Philippines. </p><p>But in a disclosure to the stock market on Monday, Converge said &quot;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.&quot;</p><p>Converge said it is always looking for new technologies to bring high-speed internet services to the country, including the latest satellite technologies from Space Exploration Technologies Corp (SpaceX).</p><p>&quot;Converge assures the Exchange and its investors that it will promptly make the necessary disclosures should there be any material developments in its exploratory talks with possible partners,&quot; the company said in a disclosure.</p><p>The company said it &quot;<a href="https://news.abs-cbn.com/business/02/10/21/converge-says-doubled-fiber-network-in-2020">doubled</a>&quot; its fiber network and residential customer growth last year from 2019 as it ramped up its expansion.</p><p>According to <a href="https://www.businessinsider.com/spacex-starlink-internet-service-elon-musk-all-you-need-know-2021-2">Business Insider</a>, SpaceX&#x27;s Starlink now has over 1,000 working satellites in orbit and targets to have 42,000 satellites by mid-2027. </p><p>Elon Musk became the world&#x27;s <a href="https://news.abs-cbn.com/business/01/08/21/elon-musk-leaves-behind-amazons-bezos-to-become-worlds-richest-person-bloomberg-news">richest</a> man earlier this year, with a wealth estimated to be $188.5 billion at one point. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/ancx/culture/spotlight/01/08/21/elon-musk-101-the-two-sides-of-the-worlds-most-richest-man">Elon Musk 101: The two sides of the world’s richest man</a></li></ul><p>Another centi-billionaire, Jeff Bezos, is also looking to create a rival satellite network to provide broadband internet. </p><p>Bezos, who retired from his duties as CEO of e-commerce behemoth Amazon, is expected to turn up the heat on his space venture, <a href="https://www.reuters.com/article/space-exploration-bezos/focus-an-unleashed-jeff-bezos-will-seek-to-shift-space-venture-blue-origin-into-hyperdrive-idINL1N2K908X">Blue Origin</a> amid fierce competition from SpaceX according to Reuters. </p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/EFvrO6QNb_0?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Broadband service provider Converge ICT on Monday played down reports that it was entering a deal with centi-billionaire Elon Musk's firm SpaceX.</p>

Broadband service provider Converge ICT on Monday played down reports that it was entering a deal with centi-billionaire Elon Musk's firm SpaceX.