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Wireless

Smart buys 3G operator Cure

Monday 28 April 2008 | 12:48 CET | News
Philippines mobile operator Smart Communications has acquired CURE, a holder of one of four 3G licences in the country. Smart bought the companies PH Communications and Francom Holdings, which control CURE, from an investor group led by Roberto V. Ongpin for in total PHP 419.54 million. Smart also intends to directly invest up to PHP 210 million in CURE, in the form of subscriptions for new shares of CURE. The fresh funds will be used by CURE for working capital purposes. CURE was awarded 10 MHz in the 2100 MHz band in December 2006 and plans to launch commercial service in May. The

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Categories: Mobile & Wireless
Companies: CURE / Smart Communications
Countries: Philippines
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