Globe Telecom Signs $750 Million Worth of Investment Deals with Chinese Companies


One of the Philippines leading telecom network provider, Glode Telecom signed several agreements with its Chinese partners worth $750 million for the improvement and enhancement of its LTE technologies in the country.



The deals between Globe Telecom and some Chinese companies are among several deals signed during the state visit of Pres. Rody Duterte in China.

Globe Telecom signed an agreements with internationally-recognized brand names namely Huawei Technologies, Nokia and Wuhan FiberHome International Technologies which cover a period of five (5) years.

Mr. Ernest Cu, President and CEO of Globe Telecom who joined the business delegations of Pres. Duterte during his state visit to china confirmed the agreements with various Chinese companies. He was quoted as saying that "We are confident that our collaboration with Huawei, Nokia and Wuhan FiberHome will translate into a more robust Globe network that will meet the country’s future digital demands,” Globe president and CEO Ernest Cu said.

According to the agreement signed between Globe and the Chinese firms, Huawei will partner with Globe for the implement of the project which is the deployment of new LTE spectrum in Luzon. The other two companies will do the same project but they will implement it in Visayas and Mindanao.

Globe, Huawei and Nokia also agreed to collaborate in modernizing Globe’s fixed line network to expand the capacity and ensure the future-proof capability of its corporate data network.

Huawei and Wuhan FiberHome will also help Globe Telecom on plans to build a fiber infrastructure to support the company's rollout of fixed broadband lines in households. Globe Telecom also aims to deploy fiber optics to 20,000 barangays by 2020 and provide ultra-fast internet access to around 2 million homes nationwide with the help of investments from Chinese companies.

Globe Telecom Signs $750 Million Worth of Investment Deals with Chinese Companies Globe Telecom Signs $750 Million Worth of Investment Deals with Chinese Companies Reviewed by Phil Newsome on 10/22/2016 Rating: 5

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