Globe Telecom ups stake in Taodharma to 67%
MANILA, Philippines – Globe Telecom Incorporated has increased its stake to 67% in Taodharma Incorporated, a unit of the Tao Group of Companies that holds exclusive licensee of Allphones Australia in the Philippines.
The Ayala-led telco told the Philippine Stock Exchange on Friday, November 4, that its board of directors has approved the increase of its stake to 67% from 25% in Taodharma.
"Accordingly, the change of our stake in Taodharma shall be reflected in the pertinent regulatory reports," Globe Telecom said in its disclosure.
In April 2014, Globe expanded its sales distribution channels with an exclusive partnership with Australian-based telecoms retail company Allphones.
Through this partnership, Globe said it is able to bundle some of its postpaid plans with Allphones mobile phones.
The Australian telco retail firm, through Taodharma, has over 50 branches in the Philippines.
Globe has been aggressively entering into partnerships, looking to cement its leadership in the telco business.
Last week, Globe announced its partnership with The Pokémon Company and Niantic Incorporated, in a bid to activate the telco's retail and charging locations as PokéStops and Gyms.
In June, the Ayala-led telco took a big leap by signing strategic partnerships with Netflix Incorporated and 5 other foreign content providers, confronting a rapidly-shifting space.
Other than Netflix, it also signed partnerships with Disney, Turner, Sports Illustrated, Smule, and Astro.
These content partners are additions to its existing deals with Spotify, HOOQ, and the NBA.
With all these new partnerships, Globe president and CEO Ernest Cu had said his telco will ramp up infrastructure that will boost Internet speed.
"Further to our commitment to provide ultra-fast internet in two million households over 20,000 barangays in 2020, we are transforming the way broadband is enjoyed in the Filipino home," Cu had promised.
He had said more cell sites will be put up using the frequencies Globe and PLDT Incorporated recently acquired from San Miguel Corporation's telecom businesses. – Rappler.com