<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Globe+Telecom" target="_blank">Globe Telecom Inc</a> is securing a controlling stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Taodharma" target="_blank">Taodharma Inc</a>, a unit of holding company <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Tao+Corp" target="_blank">Tao Corp</a>, all partners of Australia-based phone retail store <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Allphones" target="_blank">Allphones</a>.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Globe+Telecom" target="_blank">Globe Telecom Inc</a> is securing a controlling stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Taodharma" target="_blank">Taodharma Inc</a>, a unit of holding company <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Tao+Corp" target="_blank">Tao Corp</a>, all partners of Australia-based phone retail store <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Allphones" target="_blank">Allphones</a>.
The Ayala-led telco disclosed its board of directors approved over the weekend the firm&#8217;s increase in stake in Taodharma from 25 per cent to 67 per cent.
&#8220;Accordingly, the change of our stake in Taodharma shall be reflected in the pertinent regulatory reports,&#8221; Globe Telecom said in its statement.
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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&#8217;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.
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Tao Corp is a community of companies in the Philippines focused on supply-chain services related to health &amp; 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. Allphones Philippines currently has 46 retail outlets.
Globe Telecom last traded at P1,730 per share.
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Philippines: Globe Telecom to secure controlling stake in Taodharma

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Philippines: Globe Telecom to secure controlling stake in Taodharma

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