Globe Telecom

Globe Telecom concluded a sale and 15-year leaseback agreement for 447 towers for PHP5. 4 billion ($97. 5 million) with Unity Digital Infrastructure, which committed to building more than 200 towers across Visayas and Mindanao in the south of the Philippines.

Globe Telecom highlighted growth in mobile and corporate data in Q1 as a reason for optimism, with overall revenue rising despite high inflation and interest rates, and other economic challenges.

The growing attraction of fixed-mobile convergence in Asia was highlighted recently by major players in the region looking to acquire fibre assets in Indonesia, Thailand and most recently Hong Kong.

Philippines-based Globe Telecom set its sights on the underserved prepaid fibre segment to drive growth in home broadband, as gains in the post-paid side during 2022 were not enough to offset a decline in the legacy business.

Martha Sazon, president and CEO at Mynt (pictured), operator of Globe Telecom’s GCash payment app, asserted a move by the operator to broaden the scope of the fintech unit’s services had boosted financial inclusion in the Philippines.

Globe Telecom highlighted moves to lower operating expenses to maintain profitability and offset anticipated margin pressure, after booking profit and revenue gains in 2022.

Some 30 months after first offering 5G services in parts of Manila, PLDT and Globe Telecom surprisingly revealed plans to slash capex in 2023, with both declining to release adoption and coverage figures since the launch.