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Bayantel to benefit from Globe debt purchase

Globe Telecom’s tender offer to acquire at least 70% of Bayan Telecommunications Inc.’s (BTI) outstanding debt will strengthen BTI’s operations and will ultimately benefit its customers, said Globe chief financial officer Albert de Larrazabal.

“The tender offer is representative of Globe’s belief in the value of BTI as a nationally enfranchised entity,” said de Larrazabal, adding that BTI’s debt load has hindered its performance. “Potentially combining Globe’s assets and capabilities with BTI through collaborative business efforts will enable both companies to become more competitive and help accelerate the completion of BTI’s rehabilitation.”
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Posted by on November 8, 2012 in Globe Telecom, Technology

 

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