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Globe Telecom, Inc.

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Company Description
Globe Telecom, Inc. (GLO) was originally incorporated on January 16, 1935 as Globe Wireless Limited with a franchise to operate wireless long distance message services in the Philippines. The Company eventually changed its name to the present one in 1992, and welcomed Singapore Telecom, Inc. as a new foreign partner the following year.

GLO is a telecommunications company that provides digital wireless communication services nationwide under the "Globe Postpaid", "Globe Prepaid", "Touch Mobile", and "Tattoo" brands using a fully digital network. The Company also offers domestic and international long distance communication services or carrier services.

On July 20, 2015, GLO agreed to purchase from Bayan Telecommunications Holdings Corporation and Lopez Holdings Corporation all the equity in the capital stock of Bayan Telecommunications, Inc. (BayanTel). The transaction followed the conversion by GLO of BayanTel debt into equity provided under the resolution of BayanTel's Rehabilitation Court (Regional Trial Court Branch 158 Pasig City) and as approved by the National Telecommunications Commission on July 2, 2015. This transaction increased the Company's equity interest in BayanTel to 98.57% from 56.87%.

On May 30, 2016, GLO announced the approval of its Board for GLO to acquire 50% of the equity interest of the telecommunications business of San Miguel Corporation held through Vega Telecom, Inc. (Vega Telecom), with Philippine Long Distance Telephone Company (TEL) acquiring the remaining 50% interest. The Board of GLO also approved the acquisition by GLO of 50% equity interest in the telecommunications businesses of New Century Telecoms, Inc. and eTelco, Inc. Vega Telecom owns controlling interests in Bell Telecommunication Philippines, Inc.; Eastern Telecommunications Philippines, Inc.; Cobaltpoint Telecommunication, Inc. (formerly Extelcom); Tori Spectrum Telecommunication, Inc. (formerly Wi-Tribe); and Hi-Frequency Telecommunication, Inc.

The Company's subsidiaries are composed of Innove Communications Inc.; G-Xchange, Inc.; GTI Business Holdings, Inc.; Kickstart Ventures, Inc.; Asticom Technology, Inc.; and Globe Capital Venture Holdings, Inc.

Source: SEC Form 17-A (2015)/Disc. No. 3078-2016
Security Information
Sector Services
Subsector Telecommunications
Corporate Life 50
Incorporation Date Jan 15, 1935
Number of Directors 11
Stockholders' Meeting as per By-Laws Per By-Laws: April - any day; For 2011: 12 April 2011, Record Date: 25 February 2011, Circ. No. 1945-2011
Fiscal Year 12/31 (Month/Day)
External Auditor Navarro Amper & Co.
Transfer Agent Bank of the Philippine Islands Stock Transfer Agency
Contact Information
Business Address The Globe Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig
E-mail Address ir@globetel.com.ph
Telephone Number 730-2000
Fax Number 739-0072
Website http://www.globe.com.ph