Converge eyes new unit to raise asset utilization

Broadband provider Converge ICT Solutions Inc. may spin off its fiber backbone by as early as this year to maximize the nine million ports it had built across the Philippines.

- By ELIJAH FELICE ROSALES

Converge president and co-founder Maria Grace Uy yesterday said the company is evaluating the possibility of creating a new unit in charge of co-sharing its fiber network.

She said Converge may proceed with the plan either this year or in 2026, if company executives find that it makes financial sense for shareholders.

However, Uy said everything is still in the exploratory stages, noting that such a move has never been done locally. She added that Converge has a lot of factors to consider before it can spin off its fiber infrastructure.