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Globe slams calls to probe ‘roadblocks’ to mobile switch

Globe Telecom Inc. criticized PLDT Group’s call for a probe in the mobile number portability “roadblocks” and advised its rival to focus on improving its business to make it more relevant to the market.

“We only have 2,000 I think who would been even interested in the [MNP] service,” Globe president and chief executive Ernest Cu said.

He said the MNP has no impact on its operations, adding that the service “doesn’t really matter.”

Cu’s statement came after PLDT and Smart president Al Panlilio urged telecom regulators to investigate “roadblocks” in the implementation of MNP. Smart earlier complained of delays from Globe in the implementation of MNP, which took effect on Sept. 30.

“Maybe they should look at the improving the plans, promos they offer to make them more relevant in the market and that way they get better results from the marketing campaign,” Cu said.

PLDT chairman Manuel Pangilinan earlier described the group’s market capitalization as undervalued, lagging behind rival Globe.

PLDT’s market capitalization stood at P366.86 billion as of Nov. 19, lower than Globe’s P459.6 billion.

Pangilinan attributed Globe’s upbeat market cap to the “halo” effect of the valuation of GCash, after parent firm Mynt raised $300 million from investors.

The transaction solidified Mynt’s status as the Philippines’ only unicorn, and as one of the leading fintech companies in Southeast Asia.

Pangilinan said the market has yet to appreciate the value of PayMaya, which made a lot of progress this year.

“They have to improve their narrative and say where the growth will come from. Clearly, PayMaya has made much progress this year and the idea is to catch up in value with how Globe has done this year,” Pangilinan said.

“We have to tell our growth story and we think that would come as of now from home and enterprise which is a fixed-line story, which I understand that what’s Globe said. The focus of their growth story is not really on mobile, it’s on the fixed line business, but they are behind us in terms of fixed-line network and data centers,” he said.

PLDT’s Home broadband revenues amounted to P31.5 billion as of end-September, with total fixed broadband subscribers of 2.77 million.

Globe’s Home broadband revenue posted a record P22.4 billion as of end-September, a 15-percent increase from the same period a year ago.

Globe At Home’s subscriber base rose to 3.7 million from 3.5 million a year earlier, with the wired broadband customer base growing by 32 percent.

Topics: Globe Telecom Inc. , PLDT Group , mobile number portability , Ernest Cu
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