Globe sees flat capex for 2018

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GLOBE TELECOM, Inc. may keep its capital expenditure (capex) for 2018 at the same level as this year.

“We try to keep it at around the same level year on year,” Globe CEO Ernest L. Cu told reporters when asked about capex guidance for 2018, at the sidelines of the Digital Congress (DigiCon) 2017.

Globe earmarked a capex of $850 million this year, mainly for the expansion of its mobile data network. The telco is set to deploy more long-term evolution (LTE) cell sites using the 700-megahertz (MHz) and 2600-MHz frequencies.

Globe chief financial officer (CFO) Rizza Maniego-Eala told reporters on Friday that Globe has completed funding requirements for the $850-million capex this year.

Ms. Eala said company is studying the option of issuing retail bonds to raise funds next year.

“That’s an option for next year,” she said, adding Globe has yet to decide on the amount of bonds to be issued. — Patrizia Paola C. Marcelo