Globe to keep on trimming budget

Telco giant Globe Telecom Inc. is preparing to slash its capital expenditures in 2025 to below $1 billion, in line with its strategy to improve financial standing and maximize existing assets.

-  ELIJAH FELICE ROSALES

Globe chief finance officer Juan Carlo Puno yesterday said the telco could further trim its capex guidance in 2025, from $1 billion this year, as was committed to shareholders.

However, Puno underscored that nothing is final yet, as Globe is still in the process of firming up its financial framework for next year.

The telco plans to source its capex mostly from revenues, but may tap the debt market when the need arises, especially as interest rates are declining. Globe also expects to collect the remaining P11 billion in proceeds from its tower sale, which would amount to more than P96 billion.