PLDT

Philippines-based PLDT confirmed local media reports its digital unit Voyager Innovations was mulling fundraising activities to fuel growth of its e-wallet and digital bank unit, but added no concrete steps are in place.

Philippines-based PLDT resumed its network build following an internal review of processes prompted by a massive capex overrun, as part of ongoing transformation efforts.

PLDT completed the sale of the first tranche of towers in a PHP9. 2 billion ($163. 8 million) deal with Unity Digital Infrastructure, transferring 135 valued at PHP1. 9 billion.

PLDT revealed it stopped deploying new 5G base stations in early 2022 and is now converting some sites to LTE as part of on-going network optimisation programme initiated after an internal review prompted by a massive capex overrun.

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 operator PLDT revealed in a stock market filing four executives left the company including its CFO, chief of procurement and network head following a months-long probe into a massive budget overrun disclosed in December 2022.

Philippines-based PLDT’s profit fell in 2022 due to a spike in capex-related expenses stemming from a massive budget overrun it disclosed in December, though it stated it had agreed deals with its major vendors to cut the amount by…