The Business Mirror in the Philippines writes that local telco Globe Telecom is asking rival Philippine Long Distance Telephone Company (PLDT) to justify how it arrived at the PHP2.125 billion (USD50.83 million) price tag for its former Connectivity Unlimited Resource Enterprises Inc (CURE) unit. In an SMS, Globe president Ernest Cu said that the PHP2 billion floor price set by PLDT is ‘too high’, and asks that the rival firm be made to ‘justify the costs that they are including’
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OVETEL Globe curious on high cost of CURE’s PHP2bn valuation
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