Globe creates a company for the assets of the tower

GLOBE TELECOM has taken a step forward to achieve its plans for the sale of its tower assets, in line with the company's desire to continuously improve Internet connectivity. On Thursday, July 5, Globe told the Philippine Stock Exchange that she had begun incorporating a separate tower holding company. As soon as it gets approval from the Securities and Exchange Commission, this will make operational the assignment of all or part of its assets to the tower through a separate company. "The introduction of more rounds based on global standards in strategic areas will make spectrum use more efficient. We should work together and find all the means to complete the construction of towers, either through telecommunications companies or towers. This, in turn, will bring us closer to first world Internet connectivity, "said Ernest Cu, President and CEO of Globe Telecom. The Philippines has one of the lowest tower densities in the world with less than 20,000 towers serving 100 million people. About 50,000 more laps should be built to meet the current needs for voice and data traffic. (PR)