globe-telecom-fiber-optic-cable
Globe Telecom Inc. lays fiber optic cable
Globe Telecom Inc.- The country’s second-largest phone company will build 10,000 kilometers of fiber optic cable network this year in the implementation of Long Term Evolution (LTE) technology. The project aims to improve data terminals, Internet speeds, and service reliability for its subscribers across the country.
Globe said it would modernize it existing cell sites to cater high-speed mobile data traffic brought about by the increased use of smartphones in the country.
“This is a far-reaching transformation that would result in vast improvements in Globe customer experience—quick and reliable call connections, instantaneous text messaging, blazing fast Internet browsing and proactively intelligent spot-on customer support,” Globe president Ernest Cu said.
“We fervently believe that with our comprehensive transformation, which will enable us to serve customers better, Globe is advantageously positioned to become the most preferred brand among telecommunications service providers,” he added.
Globe officially traded P10 billion bonds in the organized market via the Philippine Dealing and Exchange Corp. (PDEx) on June 1, 2012. The issuance was priced at 5.75 percent per year for the five-year tenor and six percent per year for the seven-year tenor.
The company said it had opted to issue bonds to take advantage of the availability of cheap funds in the market brought about by low interest rates and benign inflation.
“The P10-billion bond offer is undoubtedly a great investment opportunity. We expect the investment community to aggressively seize the opportunity to benefit from it. I understand that we are already oversubscribed at this point in time,” Cu said.
Globe is owned by Ayala Corp. and partner Singapore’s SingTel group.
Source: PDI news @inquirer.net
Comments:
Globe implements a revolutionary change of its infrastructure through fiber optic service. If the investments cost them Php10B then this would possibly alter subscriber plan packages in the next few quarters. I hope that the company will not resort to skyrocketing offers to gain better return on investment(ROI).