Philippine Telcos Eye Joint $500M Subsea Cable Investment Amid Competition

MANILA, Philippines — Who knew there was room for geniality in the cutthroat Philippine telco landscape? Amid the usual battle for subscribers, market share and the occasional war of words, Globe Telecom Inc. president and CEO Carl Cruz found time to heap praise on rival Converge ICT Solutions Inc. and its founders, Dennis Anthony and Maria Grace Uy. Despite being much younger than its Pangilinan- and Ayala-led rivals, Converge already commands about 32 percent of the broadband market in terms of revenue, according to Cruz. That’s well ahead of Globe’s 18 percent, although still trailing PLDT Inc.’s commanding 50-percent share. “Dennis and Grace have done really well for them in that space,” Cruz told Biz Buzz. Last year, Cruz said Globe wanted to overtake Converge in broadband within three to five years before eventually setting its sights on market leader PLDT. But catching the telco giant, Cruz now acknowledges, will be no walk in the park. “It’s not easy. That’s why I said, I never underestimate any competitor,” he said, noting that Globe is much closer to PLDT in enterprise, where their respective revenue market shares stand at about 38 percent and 50 percent. “Mahirap,” Cruz said before letting out a laugh. “Sa totoo lang, mahirap.” (It’s tough. Truth be told, it’s tough) Yet for all the ambitions to close those gaps, the Globe chief noted that there is still room to be chummy in telco. In fact, the three rivals are advancing plans for a mammoth $500-million investment to lay subsea cables around the Philippine archipelago, in what Globe sees as a solution to one of the industry’s biggest headaches: cable cuts. It’s a rare moment of collaboration among three companies otherwise fighting for the same customers. But for Cruz, perhaps it shouldn’t be so surprising. “I think everyone in the industry realizes that we are competitors, not enemies,” he said. —Logan Kal-El M. Zapanta Beware of fake news about the Department of Agriculture (DA) supposedly distributing free rice for local hog raisers affected by low pork prices, according to Agriculture Secretary Francisco Tiu Laurel Jr. “Hindi ito nagmula sa akin (It did not come from me),” Tiu Laurel said on his official Facebook page. “Everyone is encouraged not to immediately believe or share posts that do not have a clear and verified source,” he added. Before hitting the share button, the agriculture chief reminded the public to check and verify the source of any information by checking official channels. The DA may not provide free rice to affected hog raisers, but it is seeking a P1 billion budget for 2027 to subsidize ASF vaccination programs for backyard pig farms. —Jordeene B. Lagare