Globe Telecom Banking On Bayantel Investment To Boost 2013 Results

Globe Telecom Inc. is counting on its Bayan Telecommunications Inc. (Bayantel) investment, its modernization initiatives as well as prospects of getting a new 3G frequency, to boost this year's performance, President and CEO Ernest L. Cu declared yesterday.

"Our ongoing network transformation program, coupled with the Bayantel tender offer and our intention to bid for the 10MHz 3G frequency held by CURE (Connectivity Unlimited Resource Enterprises, Inc.) give us more than enough prospects to remain a formidable player in an increasingly competitive environment," he reiterated.

As a strategic initiative to ensure long-term business competitiveness, Globe and Bayantel also obtained approval from the National Telecommunications Commission (NTC) for joint-use of the frequencies in the 1800 MHz band assigned to Bayantel.

This would help Globe address the increasing demand for voice, short message and mobile data services.

Last December, Globe completed a tender offer acquiring over 96% of all existing and outstanding debt of Bayantel and its subsidiary Radio Communications Philippines Inc. (RCPI) as part of its efforts to acquire a significant share in the Lopez-owned company.

Globe started separate discussions with controlling shareholders of Bayantel to acquire an equity interest in the latter.

On its own, Bayantel continued to improve its financial bottom line as it recently disclosed an 8 percent rise in core revenues to P5.22 billion in 2012 as a result of a substantial growth in its data and voice businesses.

Globe also plans to join the bid for CURE's 3G spectrum, which PLDT was ordered to surrender in compliance with the NTC's conditions when it approved the PLDT-Digitel merger in 2011.

NTC Commissioner Gamaliel Cordoba recently announced that they had already finished the Terms of Reference (TOR) for the CURE bid, and are in the process of determining the Cost Recovery Amount (CRA) through independent auditors.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • What can void a new car warranty? James Deakin - Wheel Power
    What can void a new car warranty?

    "I was denied warranty once for changing my horn!" One very annoyed reader wrote. "I was told that placing a backup camera will void my warranty" said another. The others are best left in my private inbox as Yahoo! have a swear jar in the office that I do not feel like donating this week's pay to. Continue reading → …

  • Docu exposes destruction of PH marine resources VERA Files - The Inbox
    Docu exposes destruction of PH marine resources

    By Kiersnerr Gerwin Tacadena, VERA Files "Gutom (hunger)," Sen. Loren Legarda said is what’s in store for the Filipino people if destruction of the country's marine resources is not stopped. Legarda, chair of the Senate committee on Environment and Natural … Continue reading → …

  • ‘Yolanda’ fiberglass boats modern-day Noah’s ark VERA Files - The Inbox
    ‘Yolanda’ fiberglass boats modern-day Noah’s ark

    By Jane Dasal, VERA Files If you want to save the earth, build a boat. That's what a group of environmentalists is saying, especially if you want to save both the forests and fishermen affected by supertyphoon “Yolanda” (Haiyan). “Haiyan … Continue reading → …

POLL
Loading...
Poll Choice Options