Red Mobile, also known as CURE (Connectivity Unlimited Resource Enterprises Inc.), which is a subsidiary of PLDT, will finally be closing its doors by the end of the month as confirmed by PLDT President Napoleon Nazareno.

Red Mobile has a total of 1.3 million subscribers, and so far, about 85% or 1.1 million subscribers has already been migrated to Smart, another subsidiary of PLDT. Meanwhile, the frequency owned by CURE, which is the 10MHz 3G frequency in 2100 band, will be returned to NTC for bidding.

The divestment and sale of PLDT’s subsidiary CURE was part of the agreement they made with NTC last Oct 2011 for the approval of the PLDT-Digitel deal.

[source: Yugatech]