Globe signs $750-M deals with Huawei, Nokia, Wuhan in China

ABS-CBN News

Posted at Oct 21 2016 07:05 PM

MANILA - Globe Telecom on Friday said it signed $750 million deals with technology partners Huawei, Nokia, and Wuhan during President Rodrigo Duterte's China visit.

Globe signed five-year deals with technology partners to accelerate its use of new LTE technologies, the company said.

The telecommunications firm earlier said it would increase its capital expenditure this year by $300 million to speed up its mobile internet expansion.

Globe's budget for this year to upgrade 3G, LTE and Wi-Fi facilities will reach around $1 billion.

Globe shares were down 0.42 percent to 1,892.00 on Friday. -- Report from Reuters