Globe to spend as much as $1.8B through 2019
Globe Telecom Inc. has earmarked between $1.7 billion and $1.8 billion over the next two years for the continued expansion of its mobile and broadband operations.
For this year, Globe is budgeting over $850 million to P900 million for its capital spending program to further strengthen its position in the industry.
Globe spent around P42.5 billion or $844 million last year to support the growing subscriber base and strong demand for data. Of the total, 82 percent went to the rollout of for the aggressive rollout of its broadband facilities across the country.
The Ayala-led telco has a total of 37,517 base stations, with over 24,700 for 4G3.
?We are confident that our continued investments in our network?s data capacity and coverage, will allow us to continue to provide superior customer experience and improve the over-all connectivity in the country, while building a solid foundation to deliver sustainable long-term growth and shareholder value.? Cu said.
Globe reported a five percent drop in net income to P15.1 billion last year due to increased investments in its data network.
The company ended 2017 with a total of 60.69 million subscribers, two percent higher than the previous year.?