The more, the merrier! Globe welcomes new rivals
Globe Telecom Inc. is welcoming competition with open arms.
?As repeatedly stated before, Globe is not opposed to the entry of a third player, or for that matter, as many players that the market can accommodate. Globe has always geared itself for growth and competition,? said Froilan Castelo, Globe general counsel and SVP.
Castelo said ?competition has the potential of opening up new sources of revenue streams for telecommunications players while benefiting consumers with more innovative products and services at competitive rates.?
?We trust the government will do what is fair and just ? not only in the selection of the new major player, but also in protecting the vested rights of the current service providers,? he said.
These protected rights include the right to be secure in the frequency holdings allocated by the government. Republic Act 7925 states ?the government shall allocate the spectrum to service providers who will use it efficiently and effectively to meet public demand for telecommunications service.?
To help foster competition, Globe recently took a step forward to fulfill its plans to divest its tower assets. It started the process of incorporating a separate tower holding company.
This initiative will allow the third player to rapidly roll out its network and launch commercial operations. It will also give smaller players the opportunity to scale up their business without the burden of high capital expenditures.