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Globe Forms Holdings Firm for Non-Core Businesses

18 Jun

Globe Telecom, Inc. (GLO) is spinning off its new and strategic businesses into a new wholly owned holding company. The company’s board of directors has approved the creation of a wholly owned holding company wherein the new and strategic businesses would be consolidated.

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The creation of the holding company aims to provide more focus on developing and growing its new and strategic businesses. This will allow globe to venture into strategic non-core business, but still leveraging on our strengths as a telco.

So far, the company cannot provide details about the new company due to regulatory policies.

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Posted by on June 18, 2015 in Corporate News, GLO, Stock Market

 

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