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.
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.