Globe seeks $300-M increase in capex | ABS-CBN
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Globe seeks $300-M increase in capex
Globe seeks $300-M increase in capex
ABS-CBN News
Published Oct 19, 2016 06:06 PM PHT
MANILA - Globe Telecom said Wednesday it would increase its capital expenditure this year by $300 million to speed up its mobile internet expansion.
MANILA - Globe Telecom said Wednesday it would increase its capital expenditure this year by $300 million to speed up its mobile internet expansion.
Once approved by the company's board of directors, this year's budget to upgrade 3G, LTE and WiFi facilities will reach around $1 billion, Globe said in a statement.
Once approved by the company's board of directors, this year's budget to upgrade 3G, LTE and WiFi facilities will reach around $1 billion, Globe said in a statement.
The company had said it planned to invest up to $2 billion in the next five years to deploy fiber optics in 20,000 villages nationwide.
The company had said it planned to invest up to $2 billion in the next five years to deploy fiber optics in 20,000 villages nationwide.
In May, Globe, together with rival Philippine Long Distance Telephone Co., acquired San Miguel Corp.'s telecommunications assets to gain access to a high-speed data frequency.
In May, Globe, together with rival Philippine Long Distance Telephone Co., acquired San Miguel Corp.'s telecommunications assets to gain access to a high-speed data frequency.
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Globe shares were down 1.55 percent to 1,910 on Wednesday.
Globe shares were down 1.55 percent to 1,910 on Wednesday.
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