Globe ups 2017 CAPEX target to USD800m

14 Aug 2017

The Manila Times writes that Filipino telco Globe Telecom is planning to raise its 2017 capital expenditures target from USD750 million to USD800 million to invest more in its data expansion projects as short message service (SMS) weakens. Globe President and Chief Executive Officer Ernest Cu is quoted as saying that on top of the USD250 million investment Globe recently made in the Southeast-US (SEA-US) submarine system, which was launched recently, his company is looking at expanding its spending on other projects: ‘Our CAPEX for the year is USD750 million. We will formalise our CAPEX in the third quarter. But if you look at our earnings report … I think we are already tracking more than USD500 million spending in the first six months of the year. So, there’s real possibility of raising the CAPEX for this year.’ Globe’s 2017 spending, he said, will be focused on developing and improving its data-related projects, such as deployment of its LTE mobile and LTE @Home, as well as to increase its network capacities and coverage of fixed line data. ‘Everything we do right now is geared towards data. That’s the growing part. As you know, SMS is declining,’ Cu said.

Philippines, Globe Telecom (incl. Innove)