Globe Telecom to secure controlling stake in Taodharma
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“Accordingly, the change of our stake in Taodharma shall be reflected in the pertinent regulatory reports,” Globe Telecom said in its statement. Taodharma does buying, selling, distributing, marketing all kinds of goods, including mobile communication devices and accessories.
It is also engaged in establishing, operating and maintaining retail stores in the Philippines that sell telecommunications or internet-related services, gadgets and devices.
Globe Telecom partnered with Allphones Australia, and Taodharma’s parent firm Tao Corp in 2014 to boost its postpaid customer base by expanding its sales distribution channels. This gave birth to Allphones Philippines, a national reseller of mobile phone solutions across multiple carriers.
Tao Corp is a community of companies in the Philippines focused on supply-chain services related to health & wellness, distribution and marketing, resources, and financial services.
Allphones claims to be the largest specialist multi-carrier mobile telecommunications retailer in Australia having over 170 retail outlets. Australia Philippines currently has 46 retail outlets.
Questions & Answers
Q.What was Globe Telecom's stake in Taodharma before this announcement?
What was Globe Telecom's stake in Taodharma before this announcement?
Prior to this approval, Globe Telecom held a 25 per cent stake in Taodharma. The recent board decision increases this share significantly, giving them a controlling interest in the company.
Q.What is the primary business of Taodharma Inc?
What is the primary business of Taodharma Inc?
Taodharma buys, sells, distributes, and markets various goods, including mobile communication devices and accessories. It also establishes and operates retail stores in the Philippines that offer telecommunications or internet-related services, gadgets, and devices.
Q.When did Globe Telecom first partner with Taodharma's parent company?
When did Globe Telecom first partner with Taodharma's parent company?
Globe Telecom partnered with Tao Corp, Taodharma's parent firm, in 2014. This collaboration aimed to expand Globe Telecom's sales distribution channels and boost its postpaid customer base through Allphones Philippines.
Q.How many retail outlets does Allphones Philippines currently operate?
How many retail outlets does Allphones Philippines currently operate?
Allphones Philippines currently operates 46 retail outlets. It functions as a national reseller of mobile phone solutions across multiple carriers in the country, resulting from the partnership between Globe Telecom and Allphones Australia.