AYALA-led Globe Telecom Inc. is planning to raise its capital expenditures (capex) from $750 million to $800 million in 2017 to invest more in its data expansion projects as short message service (SMS) weakens, Globe President and Chief Executive Officer Ernest Cu said. Cu said that on top of the company’s $250 million investment in Southeast-US underwater cable system, which was launched recently, Globe is looking at expanding its capex to $800 million more this 2017. “Our capex for the year is $750 million. So there’s really possibility of raising the capex for this year,” the company executive told reporters over the weekend on the sidelines of an event in Taguig City. “We will invest our 34 percent of revenues back to our network which is really high for this year,” he said.

Source: Manila Times August 14, 2017 02:03 UTC