The Philippines based mobile network operator, Globe Telecom has signed a US$50 million loan facility with Canada's Export Development agency. In a brief statement to the local stock exchange, the company said that the loan would be used to fund capital expenditure purchases from Nokia Siemens Networks.
The company has earmarked a CAPEX for this year of US$350-$400 million.
Globe Telecom is 45% owned by Singapore Telecom, with 34% owned by the local Ayala Corporation and the remaining 21% floated on the stock exchange.
Posted to the site on 4th May 2009
Posted to: www.cellular-news.com/story/37301.php