Vega Telecom

Last updated
Vega Telecom Inc.
Type Subsidiary
Industry Telecommunications
Area served
Philippines
Services Wireless Telephony
Broadband Internet
Parent PLDT (50%)
Globe Telecom (50%)
Subsidiaries

Vega Telecom Inc. is a Filipino telecommunications company jointly owned by Globe Telecom and PLDT. It was established as a holding company of San Miguel Corporation for its various telecommunications investments. In separate statements on May 30, 2016, Globe Telecom and PLDT each acquired half of Vega Telecom from San Miguel Corporation for P69.1 billion. The acquisition entailed P52.08 billion for 100% equity interest in Vega Telecom and the assumption of around P17.02 billion of liabilities. [1] [2] [3] The deal was closed in May 30, 2017. [4]

Contents

Subsidiaries

Related Research Articles

Telecommunications in the Philippines are well-developed due to the presence of modern infrastructure facilities. The industry was deregulated in 1995 when President Fidel Ramos signed Republic Act 7925. This law opened the sector to more private players and improved the provision of telecom services are better and fairer rates, leading to the creation of many telecommunication service providers for mobile, fixed-line, Internet and other services.

The Philippine Telegraph and Telephone Corporation (PT&T) is one of the major telecommunications services provider in the Philippines since its founding in 1962. The company caters to corporate, small/medium business, and residential segments across the country. PT&T’s business categorized into two major services: Connectivity and IT Services.

BCE Inc. Canadian telecommunications and media company

BCE Inc., formerly Bell Canada Enterprises Inc., is a publicly traded Canadian holding company for Bell Canada, which includes telecommunications providers and various mass media assets under its subsidiary Bell Media Inc. Founded through a corporate reorganization in 1983 when Bell Canada, Northern Telecom, and other related companies all became subsidiaries of Bell Canada Enterprises Inc., it is one of Canada's largest corporations. The company is headquartered at 1 Carrefour Alexander-Graham-Bell in the Verdun borough of Montreal, Quebec, Canada.

China Telecommunications Corporation known as its trading name China Telecom is a Chinese state-owned telecommunication company. It is the largest fixed-line service and the third largest mobile telecommunication provider in China. It has three listed companies: China Telecom Corporation Limited, China Communications Services Corporation Limited and Besttone Holding Co., Ltd..

San Miguel Corporation Filipino multinational conglomerate

San Miguel Corporation is a Filipino multinational publicly listed conglomerate holding company. It is the Philippines' largest corporation in terms of revenue, with over 24,000 employees in over 100 major facilities throughout the Asia-Pacific region.

Globe Telecom Telecommunications service provider in the Philippines

Globe Telecom, Inc., commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. The company is the largest mobile network operator in the Philippines and one of the largest fixed line, and broadband networks. As of May 2020, Globe’s total mobile subscriber base reached 89.3 million.

PLDT Philippine telecommunications company

PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company, is a telecommunications, internet, and digital service holdings company in the Philippines. It is one of the country's major telecommunications providers, along with Globe Telecom. Founded in 1928, it is the oldest and largest telecommunications company in the Philippines, in terms of assets and revenues.

Bayan Telecommunications

Bayan Telecommunications Inc. (BayanTel) is a telecommunications company serving areas in Metro Manila, Bicol and local exchange service areas in the Visayas and Mindanao regions combined, cover a population of over 25 million, nearly 33% of the population of the Philippines. BayanTel now operates as a subsidiary of Globe Telecom.

Digital Telecommunications Philippines

Digital Telecommunications Phils., Inc., commonly known as Digitel, was the second-largest fixed-line and the third-largest mobile telecommunications company in the Philippines. It is also the company that owns Sun Cellular, a mobile phone service.

Red Mobile

Red Mobile, formerly ümobile and legally as Connectivity Unlimited Resource Enterprise, Inc. (CURE), was a wholly owned subsidiary of Smart Communications, the Philippines' largest mobile telecommunications company. When it was initially launched as ümobile, it used the CURE Universal Mobile Telecommunications System network. At that time, it offered its services through an invitation-based, ad-supported platform, catering to middle and upper-class subscribers between the ages of 15 and 35, devoting its services to that demographic. After re-branding as Red Mobile, both the ad-supported revenue platform and invitation system were scrapped in favor of a more traditional marketing and revenue-generating approach. In March 2010, Red Mobile started promoting its unlimited service offerings. However, subscribers started reporting on online social networks that the CURE UMTS network has since been converted to a GSM network. It is Closed in July 2012.

First Pacific

First Pacific Company Limited is a Hong Kong-based investment management and holding company with operations located in Asia. It involves telecommunications, consumer food products and infrastructure.

MediaQuest Holdings, Inc. is a Philippine-based media conglomerate that provides radio and television broadcasting, as well as direct-to-home satellite services and print media. Though an affiliate of telecommunications company PLDT, MediaQuest is owned by the former's Beneficial Trust Fund, a retirement pension plan funded through its Philippine Depository Receipts. PLDT does not directly own any media property as the current 1987 Constitution states that media companies should be 100% owned by Filipinos and the company's major shareholders include foreign entities such as First Pacific and Nippon Telegraph and Telephone.

360networks, Inc. was a Canadian-based wholesale telecommunications carrier. The company developed many long-haul fiber optic communications network routes throughout North America, many along railroad rights of way, consisting of both dark fiber and lit fiber. These long-haul routes included Chicago to New Orleans, Chicago to Denver, Chicago to Detroit, Chicago to New York, Seattle to Los Angeles, and Denver to San Francisco. In 2011, the company was acquired by Zayo Group.

A bidding was held in November 2018 to determine the prospective third major telecommunications service provider in the Philippines which is meant by the Philippine government to compete with the existing duopoly of PLDT, Inc.–Smart Communications and Globe Telecom.

Udenna Corporation is a holdings company by the Udenna Group of Companies which is based in Davao City, Philippines founded by businessman Dennis Uy. Primarily involved in the petroleum and shipping industry in its initial years of existence, the company later diversified and became involved in other industries such as real estate and telecommunications.

Dito Telecommunity Filipino telecommunications company

Dito Telecommunity Corporation, formerly known as Mindanao Islamic Telephone Company, Inc. or Mislatel is a telecommunications company in the Philippines which is also engaged in the business of multimedia and information technology. It is a consortium of Davao businessman Dennis Uy's Udenna Corporation, and Chinese state-owned China Telecommunications Corporation, a parent company of China Telecom.

DITO CME Holdings Corporation is a Filipino conglomerate holding firm. Formed in 1925, the company primarily engages in telecommunications and information technology infrastructure.

Eastern Telecommunications Philippines, Inc. (ETPI), doing business as Eastern Communications, is a telecommunications company in the Philippines jointly owned by PLDT and Globe Telecom through its own subsidiary, Vega Telecom. Founded in 1878 during the final years of the Spanish colonial era, it was the first company to provide telegraphic services.

References

  1. 1 2 3 4 5 6 "PLDT - Globe to Acquire Telecommunications Business of San Miguel". PLDT. May 30, 2016. Retrieved June 21, 2021.
  2. 1 2 3 4 5 6 "Globe Announces the Partial Acquisition of San Miguel Corporation's Telecommunications Business". Globe. May 30, 2016. Retrieved June 21, 2021.
  3. "San Miguel Ends Telco Push With $1.5 Billion 'Master Stroke'". May 30, 2016 via www.bloomberg.com.
  4. Camus, Miguel R. (May 31, 2017). "PLDT, Globe complete purchase of SMC'S telecommunications unit". INQUIRER.net. Retrieved June 28, 2021.