Globe Telecom, Inc. acquired 77% stake in Electronic Commerce Payments (EC Pay) Inc. from Payment One, Inc. and The Andresons Group for PHP 1.5 billion.
October 24, 2019
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Globe Telecom, Inc. (PSE:GLO) acquired 77% stake in Electronic Commerce Payments (EC Pay) Inc. from Payment One, Inc. and The Andresons Group for PHP 1.5 billion on October 25, 2019. As per terms of transaction, Globe Telecom, Inc. will acquire 49.3 million share at PHP 31.25 each of Electronic Commerce Payments will be payable in cash upon signing of the definitive document. The Board of Directors of Globe Telecom, Inc. has approved the transaction. BPI Capital Corporation acted as the financial adviser to Globe Telecom, Inc.
Globe Telecom, Inc. completed the acquisition of 77% stake in Electronic Commerce Payments (EC Pay) Inc. from Payment One, Inc. and The Andresons Group October 25, 2019.
Globe Telecom, Inc. is a Philippines digital platform company with interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare. The Companyâs segments include Mobile Communications Services and Wireline Communications Services. The Mobile Communications Services segment provides digital cellular telecommunications services, which includes mobile voice, mobile SMS, and mobile data. The Company offers its mobile communications services to consumers, corporate and small and medium enterprise (SME) clients through a range of brands, including globe postpaid, globe prepaid and touch mobile. The Wireline Communications Services segment provides fixed line voice, corporate data, and home broad band services. It offers a range of fixed line communications services, wired and wireless Broadband access, and end-to-end connectivity solutions customized for consumers, SME, and businesses.
Globe Telecom, Inc. acquired 77% stake in Electronic Commerce Payments (EC Pay) Inc. from Payment One, Inc. and The Andresons Group for PHP 1.5 billion.
GLOBE TELECOM, INC. 
