Globe Telecom
Globe Telecom, Inc., commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. The company operates the largest mobile network in the Philippines and one of the largest fixed-line and broadband networks. As of 2021, Globe's total mobile subscriber base reached 86.6 million. It is also the country’s largest telecommunications company in terms of market capitalization. The company's principal shareholders are Ayala Corporation and Singtel. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of ₱363 billion as of the  end of August 2021. Globe offers commercial wireless services through its 2G, 3G, 3.5G HSPA+, 4G LTE, and LTE-A networks, with 5G currently being deployed in key areas in the Philippines. Its 5G coverage is available in over 2,000 locations all over the country and about 96% of the National Capital Region. In 2016, Globe introduced its "Globe Lifestyle" brand as a way to connect to its customers through fashion. It also launched two entertainment divisions: Anima (formerly known as Globe Studios), which focuses on film and television production, and Globe Live, which  focuses on live concerts and musical events. History. On December 8, 1928, Congress passed Act No. 3495 granting the Robert Dollar Company (a corporation organized and existing under the laws of the State of California), a franchise to operate wireless long-distance message services in the Philippines. Subsequently, Congress passed Act No. 4150 on November 28, 1934 to transfer the franchise and privileges of the Robert Dollar Company to Globe Wireless Limited, which was incorporated in the Philippines on January 15, 1935. In 1965, Globe Wireless Limited was merged with Mackay Radio & Telegraph Company and Philippine Press Wireless to form  Globe-Mackay Cable and Radio Corporation ("Globe-Mackay"), with the transfer of Mackay's franchise to Globe Wireless Limited approved by the Congress through Republic Act No. 4491 enacted on June 19, 1965. By Republic Act No. 4630 enacted in the same date by the Congress, its franchise was further expanded to allow Globe-Mackay to operate international communications systems. Globe-Mackay was granted a new franchise on December 24, 1980 by Batasang Pambansa, under Batas Pambansa Blg. 95, extending it for 50 years. In 1974, Ayala Corporation began its investing in Globe-Mackay. Globe-Mackay offered its shares to  the public on August 11, 1975, becoming the first telecommunications company in the country to do so. In 1991, Globe-Mackay merged with Clavecilla Radio Corporation, a domestic telecommunications pioneer, to form GMCR, Inc. The merger gave GMCR the capability to provide all forms of telecommunications to address the international and domestic requirements of its customers. The merger was also approved by the Congress through Republic Act No. 7229 enacted on March 19, 1992 which amended its franchise. On August 20, 1998, GMCR was renamed as Globe Telecom, Inc. In 1993, Globe partnered with Singapore Telecom, Inc. (STI), a wholly  owned subsidiary of Singapore Telecommunications Limited ("Singtel"), after Ayala and STI signed a Memorandum of Understanding. In 2001, Globe merged with Isla Communications Company, Inc. ("Islacom"), a joint venture with Deutsche Telekom as foreign partner. It became its wholly owned subsidiary effective on June 27, 2001. Deutsche Telekom eventually sold its share to Singapore Telecom. In 2003, the National Telecommunications Commission ("NTC") granted Globe Telecom's application to transfer its fixed line business assets and subscribers to Islacom, pursuant to its strategy to integrate all of its fixed line services under Islacom. Subsequently, Islacom was renamed as Innove Communications, Inc.  In 2004, Globe invested in G-Xchange, Inc. ("GXI"), a wholly owned subsidiary, to handle the mobile payment and remittance service marketed under the GCash brand using Globe Telecom's network as transport channel. GXI started commercial operations on October 16, 2004. In late 2019, the GCash brand was refreshed by global branding and design agency Serious Studio. That brand refresh was suggested by Ant Financial, Globe's venture partner in GCash (by way of Mynt, GXI's successor company). In November 2004, Globe and seven other leading Asia-Pacific mobile operators ("JV Partners") signed an agreement ("JV agreement") to  form Bridge Alliance. The joint venture company operates through a Singapore-incorporated company, Bridge Mobile Pte. Limited (BMPL) which serves as a commercial vehicle for the JV partners to build and establish a regional mobile infrastructure and common service platform to deliver different regional mobile services to their subscribers. The Bridge Alliance has a combined customer base of over 900 million subscribers among its partners in Asia Pacific, Middle East, Africa, Europe, and the Americas. In 2005, Innove was awarded by the National Telecommunications Commission (NTC) with a nationwide franchise for its fixed line business, allowing it to operate a  Local Exchange Carrier service nationwide and expand its network coverage. In December 2005, the NTC approved Globe Telecom's application for third generation (3G) radio frequency spectra to support the upgrade of its cellular mobile telephone system ("CMTS") network to be able to provide 3G services. Globe was assigned with 10-Megahertz (MHz) of the 3G radio frequency spectrum. On May 19, 2008, following the approval of the NTC, the subscribers contracts of Touch Mobile (TM) prepaid service were transferred from Innove to Globe, which now operates all wireless prepaid services using its integrated cellular networks. In  August 2008, and to further grow its mobile data segment, Globe acquired 100% ownership of Entertainment Gateway Group ("EGG"), a leading mobile content provide in the Philippines. EGG Group is engaged in the development and creation of wireless products and services accessible through telephones or other forms of communication devices. It also provides internet and mobile value added services, information technology and technical services including software development and related services. EGGC is registered with the Department of Transportation and Communication (DOTC) as a content provider. On May 15, 2014, EGGC changed its corporate name from Entertainment Gateway Group Corp. to  Yondu, Inc. (Yondu). On October 30, 2008, Globe, the Bank of the Philippine Islands and Ayala Corporation signed a memorandum of agreement to form a joint venture that would allow rural and low-income customers' access to financial products and services. In October 2009, the Bangko Sentral ng Pilipinas (BSP) approved the sale and transfer by BPI of its shares of stock in Pilipinas Savings Bank, Inc. (PSBI), formalizing the creation of the venture. Globe Telecom's and BPI's ownership stakes in PSBI is at 40% each, while AC's shareholding is at 20%. The partners plan to transform  PSBI (now called BPI Globe BanKO, Inc.) into the country's first mobile microfinance bank. The bank's initial focus will be on wholesale lending to other microfinance institutions but will eventually expand to include retail lending, deposit-taking, and micro-insurance. BPI Globe BanKO opened its first branch in Metro Manila in the first quarter of 2011 and now has 6 branches nationwide, over 2,000 partner outlets, 261,000 customers and over P2.4 billion in its wholesale loan portfolio. On November 25, 2008, Globe formed GTI Business Holdings, Inc. (GTIBH) primarily to act as an investment company. In March 2012 , Globe launched Kickstart Ventures, Inc. (Kickstart) to help, support and develop the dynamic and growing community of technopreneurs in the Philippines. Kickstart is a business incubator that is focused on providing aspiring technopreneurs with the efficient environment and the necessary mechanisms to start their own business. Since its launch, Kickstart has 10 companies in its portfolio covering the digital media and technology, and web/mobile platform space. In May 2013, ABS-CBN Convergence, Inc. ("ABS-C", formerly Multimedia Telephony, Inc.) announced the launch of its mobile brand, ABS-CBNmobile. The launch of the new mobile brand is being supported through  a network sharing agreement with Globe, wherein the latter provides network capacity and coverage to ABS-C on a nationwide basis. ABS-C formally launched the brand on November 26, 2013. In October 2013, following the court's approval of the Amended Rehabilitation Plan (jointly filed by Globe and BayanTel in May 2013), Globe acquired a 38% interest in BayanTel by converting BayanTel's unsustainable debt into common shares. This follows Globe Telecom's successful tender offer for close to 97% of BayanTel's outstanding indebtedness as of December 2012. As part of the amended rehab plan and pending regulatory  approvals, Globe would further convert a portion of its sustainable debt into common shares of BayanTel, bringing up its stake to around 56%. In October 2014, Globe Telecom received a copy of the temporary restraining order (TRO) issued by the Court of Appeals stopping the National Telecommunications Commission's (NTC) proceedings in connection with the bid of Globe Telecom Inc. to take over Bayan Telecommunications Inc. (BayanTel). Despite the lapse of the Temporary Restraining Order (TRO) last December 9, 2014, the Court of Appeals has advised the NTC to refrain from conducting any proceedings in connection with the bid of  Globe assume majority control of BayanTel. On June 3, 2014, Globe signed an agreement with Azalea Technology, Inc. and SCS Computer Systems, acquiring the entire ownership stake in Asticom. Asticom, a systems integrator and information technology services provider to domestic and international markets, is 49% owned by Azalea, a 100%-owned subsidiary of Ayala Corporation and 51% owned by SCS Computer Systems, a subsidiary of Singapore Telecom. On June 30, 2015, Globe incorporated Global Capital Venture Holdings, Inc., a wholly owned subsidiary organized under the laws of the Philippines and formed for the purpose of venturing into strategic non-core business . On August 27, 2015, Globe Telecom, Inc. (Globe), Ayala Corporation (AC), and Bank of the Philippine Islands (BPI) signed an agreement to turn over full ownership of BPI Globe BanKO (BanKO) to BPI, one of the majority owners of the joint venture. In Q3 2016, Globe Telecom dislodged Smart Communications as the largest telecommunications company it terms of subscriber base with 65.8 million subscribers, 200,000 more than its rival. In 2017, Globe Telecom's CEO, Ernest Cu was named the CEO of the year by the World Communication Awards 2017. In 2018, Globe Telecom was selected as the best workplace  in Asia. and the Internet was proposed to be extended in Europe. On October 1, 2020, Globe Telecom launched "GOMO", the country's first fully digital telco. Ownership. Updated Shareholding Structure of Globe Telecom as of 30 September 2021:: Esports. Globe Telecom and MET Events organized the Philippine Pro Gaming League. In its first season, it only had 3 games Dota 2, Tekken 7, and Arena of Valor with P800,000 prize pool. The second season increased the prize pool to P1.3-million, had 4 games: League of Legends, Tekken 7, Rules of Survival, and Arena of Valor and a corporate  league added later on.