Final rules governing the selection of a new major telco player have been issued, with a challenger to the PLDT-Globe duopoly set to be named by December.

A memorandum circular (MC) approved on Thursday and released on Friday requires prospective players to have a minimum paid-in capital of P10 billion, at least 10 years of experience in delivering telecommunications services on a nationwide scale, no relationship to the dominant telcos and no outstanding liabilities with regulators.