Categories: Telco News

Globe emerges as most valuable telco in PH in October

Globe is the most valuable telecommunications company in the country as of October this year as its market capitalization in the Philippine Stock Exchange (PSE) soared to a record P456 billion amid its efforts to become a digital solutions platform.

The Ayala-led telco’s stock price zoomed to an all-time high of ₱3,410 last October 6. This reflects a 69 percent year-to-date jump from ₱2,018 last January 4.

The robust increase in share price reflects investor confidence in Globe’s growth prospects in the coming years. 

“Telco will continue to be our main and most important business, but we now view ourselves as a digital platform that builds one business upon others,” said Globe president and CEO Ernest Cu.

 

“We will continue to enhance our telco business and keep an eye on maintaining our number one spot in mobile, as we compete heavily in the fixed-line business and expand our services to other fields of technology and digital solutions,” he added.

 

To ensure that its network can accommodate the demand for digitalization, Globe has earmarked an unprecedented ₱76 billion for its capital expenditures this year to support the connectivity needs of Filipinos and provide the country with a #1stWorldNetwork.

 

To know more about Globe, visit www.globe.com.ph.

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Myra Santos Santos

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