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Without much funfare, Globe Telecom is effectively the new owners of BayanTel. Or something to that effect. The negotiations between Globe and BayanTel have been going for some time now with the former offering to pay the latter’s debts.
Globe and BayanTel has been in talks about this for a long time and the two has even gone into joint-use in recent months.
BayanTel has been in debt for a long time and is under rehabilitation. The biggest asset that telcos are looking to get from them is the additional spectrum.
In a disclosure to the Philippine Stock Exchange, the Ayala-led telco said 92.90 percent of the debt papers were tendered, adding that it would pay Bayantel’s creditors no later than December 21. {source: Interaksyon}
This move isn’t really a surprise since Globe is looking to get more bandwidth. Globe made a bid to acquire Digitel (Sun Cellular) for the same reasons only to be out-bid by PLDT/Smart.
Globe has undertaken a modernization program starting last year in order to accommodate more traffic and subscribers.
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Epstein says:
Whoah!
frenchy says:
Globe-Bayantel and Smart-PLDT-Sun… This is interesting. Hopefully makatulong ito na ma-improve ang network connections ng Globe.
Rolly says:
You mean para ma improve ang network COLLECTION. har-har-har
Jigs says:
So pwede nang mgregister sa iwantTV ang mga globe subscribers?…LOL
lei says:
Iwantv is with Skybroadband/Skycable, a separate subsidiary of the Lopez group. but this is a possibility.
boboo says:
I think there’s also a Bayan broadband. Their subscribers can access iWantV.
Rolly says:
Dude, it’s so not working! :P
ichigo12 says:
You need to have a skycable account para makagawa ng iwantv account
vince says:
why did bayantel go into debt? is it because of a poor product? and what part of bayantel: the internet or the landline division?
well whatever, less competition is bad for the consumer. the only good thing for consumers is it will slightly balance out the pldt-smart-sun giant.
poncy says:
It’s too much competition that put bayantel down.
jpeb says:
history lesson…
during the early 90s, our telco sector was liberalized allowing new telcos to compete with PLDT. companies that were put up included Globe, Islacom, Bayantel, etc.
the Lopez group which controlled Bayantel borrowed heavily in USD which had low interest at that time to fund its infrastructure. when the Asian financial crisis hit us in 1997/1998 the PHP was devalued and those who had USD debt but earned in PHP suddenly had higher debt in their balance sheets.
with huge debts and tough competition, Bayantel went to receivership/corporate rehabilitation.
DaOtherEye says:
Good luck na lang sa mga BayanDSL subscribers. I subscribed to a TattooDSL (with Globelines) last November dahil may promo offers sila. 3 times it failed already including one during Christmas Eve and Christmas Day itself (no dial tone and DSL). Yung mobile network nila puro EDGE pa rin. Kung makasagap ka man ng 3G or HSPA+ kadalasan di umaabot ng 1mbps. Very inconsistent and unreliable.
http://youtu.be/ltg2320I520?hd=1
http://www.youtube.com/watch?v=5GPFXs5j25g
http://www.youtube.com/watch?v=dyled67S-oQ
poncy says:
Agree. Globe is good only in advertising products pero panget naman ang quality.
Potato says:
hahahhaha
kailan bang naging totoo ang mga advertisment?
leemar says:
globe connection sobrang bulok!
cheesecaketorte says:
2 years na ko bayandsl subscriber and im very satisfied sa service nila. I hope this doesnt ruin the run.
domi says:
It’s “fanfare”.