Globe eyes increasing 2021 spending to PHP 70 billion

Globe Telecom is targeting to increase its investment to up to PHP 70 billion for 2021 as the Coronavirus lockdown eases. 

File photo: Globe logo

Globe to boost investment for 2021

This was presented to Palace officials when both Globe and PLDT reported their respective network developments. 

Globe President and Chief Executive Officer Ernest Cu said in the Palace briefing the Ayala-led telco has "big ambitions" for next year. 

We are hoping to spend over what we did in 2020. With the improved permitting, we hope to spend about P70 billion, Cu said.

The investment would be used to finance its plan to put up one million fiber to the home lines and more than 2,000 new cell sites. 

Globe will also focus on the deployment of its Fifth Generation (5G) network to more cities and municipalities. 

Its main competitor PLDT earlier said it was eyeing to spend as much as PHP 92 billion in 2021. 

Alfredo Panlilio, PLDT Chief Revenue Officer and Smart Communications President and CEO, noted the majority of the capital expenditures would be earmarked to finance the expansion of PLDT's fiber footprint and wireless coverage. 

Via: Philippine Star