Philippines telecoms operator Globe Telecom is poised to award contracts worth a total of USD700 million to Alcatel-Lucent and Huawei Technologies to modernise its network, BusinessWeek reports without citing its sources. It is understood a minimum USD570 million will be committed in 2012/13, with the country’s president Benigno Aquino expected to witness the signing of the supply deals at the presidential palace this week. As reported by CommsUpdate, Globe Telecom last week reported a steep fall in net income for the last three months of 2011 due to higher than expected marketing costs following the merger of its two main rivals Philippine Long Distance Telephone Company (PLDT) and Digital Telecommunications Philippines Inc (Digitel), although full year profits and income were up year-on-year.
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OVETEL Globe to pick Alca-Lu and Huawei for USD700m worth of contracts
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