SEC approves incorporation of Globe Capital Venture

The Securities and Exchange Commission (SEC) has approved the incorporation of Globe Capital Venture Holdings lnc., a company created to house the non-core concerns of parent Globe Telecom. Inc.

 

Globe Telecom on Wednesday told the Philippine Stock Exchange of this development.

 

The new wholly-owned holding firm was put up "... to house new non-core business of Globe," a company official told GMA News Online.

 

Globe Capital is the seventh 100-percent down subsidiary of the telco on the heels of Asticom Technology Inc., GTI Business Holdings Inc., G-Xchange Inc., Innove Communications Inc., Kickstart Ventures Inc. and Yondu. – VS, GMA News