SingTel looks to strengthen its Philippine portfolio

31 Jan 2005

Globe Telecom, the joint venture between SingTel and Ayala Corp, has said that there is room for SingTel to increase its 45% stake in the company. The announcement follows talks in which SingTel set out plans to expand its operations in the Philippines. Globe, which is one of SingTel’s biggest foreign investments, explained that its 40% limit on foreign ownership applied only to stock voting rights – SingTel’s current share only equates to 21.1%.

Philippines, Globe Telecom (incl. Innove), Singtel