Globe to Sign $700 Million Deal With Huawei, Alcatel-Lucent

Globe Telecom Inc. will sign a $700 million agreement with Huawei Technologies Co. and Alcatel-Lucent to modernize its network, Philippine President Benigno Aquino’s communications office said in a statement today.

At least $570 million of the total amount will be spent this year and in 2013, Aquino’s communication office said. Aquino will witness the signing at the presidential palace tomorrow.