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Which Dennis Uy? Globe chief hints Converge 'bigger competition' than DITO

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Art Fuentes, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Telcos" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/business/11/15/20211115-globe-converge-dito.jpg"/></figure></div><p>MANILA - Globe Telecom’s top official hinted that he currently sees Converge ICT as a more significant competitor than DITO Telecommunity despite the latter having won the government contract as the third major telco.</p><p>During an online media briefing on Globe’s third-quarter performance, Globe president and CEO Ernest Cu was asked about which Dennis Uy was the “bigger competition” for the Ayala-led telco.</p><p>“Right now, I think Converge is doing a very good job in executing their fiber plan,” Cu answered. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/10/21/we-have-to-see-how-they-play-the-game-globe-plays-down-impact-of-dito">&#x27;We have to see how they play the game&#x27;: Globe plays down impact of DITO</a></li></ul><p>Davao-based businessman Dennis Uy partly owns DITO, while Converge is partly owned and headed by Dennis Anthony Uy from Pampanga. </p><p>DITO recently announced that it now has <a href="https://news.abs-cbn.com/business/11/09/21/dito-hits-4-million-subscriber-mark" target="_blank">4 million</a> subscribers after launching commercial operations last March.  </p><p>Cu meanwhile had earlier been quoted saying “subscribers are not as meaningful as revenues” in reference to DITO’s accumulation of 2 million subscribers in August.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/11/21/converge-posts-p52-b-net-income-on-jan-sept">Converge posts P5.2 billion net income on first 9 months of 2021</a></li></ul><p>DITO CME Holdings, the parent firm of DITO Telecommunity, currently has a market cap of P88.8 billion, which is just a third of Converge’s P267.2 billion valuation despite the latter offering only fiber services with no cellular counterpart.</p><p>Cu however said Globe Telecom is also ramping up its fiber offerings.<br/> <br/>“We will be coming up and getting more aggressive with Fiber because that is what the customers are looking for today,” Cu said. </p><p>Globe is also expecting mobile data demand to rise as the economy further reopens. Cu said mobile data usage took a backseat to home broadband usage as the pandemic kept students and workers at home. </p><p>“Mobile will ultimately recover and we have seen it in the last 2 months,” said Globe vice president Darius Jose Delgado. </p><p>The Ayala-led telco meanwhile said the mobile number portability (MNP) law has had a negligible effect on its subscriber base. Cu dismissed claims that PLDT was going to be a “<a href="https://news.abs-cbn.com/business/11/05/21/regulators-urged-probe-roadblocks-in-mobile-number-portability" target="_blank">net gainer</a>” from the MNP service. </p><p>“We only have 2,000 people, I think, who are even interested in the service,” Cu said.</p><p>The company also doesn’t expect the possible approval of amendments to the Public Services Act (PSA) to affect its business and corporate setup.</p><p>Legislators are seeking to amend the PSA to remove telcos from the classification of public utilities, thus allowing 100 percent ownership of telecommunications businesses. </p><p>The measure is seen by legislators as a means to weaken the “duopoly” of Globe and PLDT in the telecoms industry.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/20/21/business-groups-back-senate-amendments-to-public-service-act">Business groups back Senate amendments to Public Service Act</a></li>	<li><a href="https://news.abs-cbn.com/business/11/15/21/gcash-not-keen-having-own-digital-bank">GCash not keen on setting up own digital bank even as value hits $2 billion</a></li>	<li><a href="https://news.abs-cbn.com/business/11/12/21/globe-telecom-posts-p18-b-net-income-from-jan-sept">Globe Telecom posts P18-billion net income for first 9 months of 2021</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1824940" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><div> </div>

Globe hinted that it currently sees Converge ICT as a more significant competitor than DITO Telecommunity, despite the latter being the third major telco.

Which Dennis Uy? Globe chief hints Converge 'bigger competition' than DITO

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Which Dennis Uy? Globe chief hints Converge 'bigger competition' than DITO

Art Fuentes,

ABS-CBN News

Published Nov 16, 2021 12:21 AM PHT

Read More:

Globe Telecom

Ernest Cu

telco

DITO

Dennis Uy

Dennis Anthony Uy

PLDT

mobile

fiber

home broadband

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