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Globe Telecom to Spend $1.46 Billion as Rivalry Shifts to Homes
Andreo Calonzo, Bloomberg News
(Bloomberg) Globe Telecom Inc. will spend a record 70 billion pesos ($1.46 billion) this year to boost its data infrastructure as competition shifts to servicing people working from home.
The Philippinesâ second-largest telecommunication company expects âheightened activityâ in home broadband this year as competitors PLDT Inc. and Converge ICT Solutions Inc. vie for subscribers working from home, Globe President Ernest Cu said in a virtual briefing. Its capital spending will increase by 16% to build and upgrade cell sites and expand home broadband capacity, Chief Finance Officer Rosemarie Maniego-Eala said.