{"id":322121,"date":"2022-12-09T09:33:46","date_gmt":"2022-12-09T09:33:46","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=360762"},"modified":"2022-12-09T09:33:46","modified_gmt":"2022-12-09T09:33:46","slug":"globe-to-slash-capex-after-splurge","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/12\/09\/globe-to-slash-capex-after-splurge\/","title":{"rendered":"Globe to slash capex after splurge"},"content":{"rendered":"

<\/p>\n

\tGlobe Telecom unveiled plans to cut its capex budget in 2023 by 30 per cent, with network spending expected to peak at about $1.9 billion this year following a ramp over the past two to take advantage of streamlined processes for deploying infrastructure.<\/p>\n

The company’s board approve a reduction to $1.3 billion.<\/p>\n

Globe Telecom president and CEO Ernest Cu stated after investing heavily, “we now have a significant backbone for our network, which allows us to shift our focus towards capital efficiency and optimisation”.<\/p>\n

He said it targets bringing capex down to $1 billion by 2024.<\/p>\n

By end-September, the operator said it upgraded 10,600 sites to LTE, deployed 1,887 5G sites nationwide and installed 1.4 million FTTH lines.<\/p>\n

Globe Telecom raised capex 54 per cent to PHP92.8 billion [1] ($1.7 billion) in 2021.<\/p>\n

Earlier this year, it earmarked PHP89 billion. The operator raised funds for the capex increase through a stocks rights offer [2] and selling-off tower assets [3].<\/p>\n

The Philippine government introduced rules to simplify [4] complex infrastructure building processes in 2020.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/globe-forecasts-sustained-growth\/
\n[2] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/globe-readies-rights-offer-to-fund-network-reduce-debt\/
\n[3] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/globe-inks-1-3b-tower-deals-to-fund-capex-pay-debt\/
\n[4] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/philippines-makes-tower-sharing-progress\/<\/p>\n\n

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<\/p>","protected":false},"excerpt":{"rendered":"

Globe Telecom unveiled plans to cut its capex budget in 2023 by 30 per cent, …<\/p>\n

The post Globe to slash capex after splurge<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":248,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Globe to slash capex after splurge - ITTeacherITFreelance.hk","description":"Globe Telecom unveiled plans to cut its capex budget in 2023 by 30 per cent, ... The post Globe to slash capex after splurge appeared first on Mobile World Live"},"footnotes":""},"categories":[11,8,21],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/322121"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/248"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=322121"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/322121\/revisions"}],"predecessor-version":[{"id":322122,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/322121\/revisions\/322122"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=322121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=322121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=322121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}