Transport/CommsGlobe Telecom Inc. said Thursday it completed the third closing and official handover of 431 towers to Frontier Tower Associates Philippines Inc.
The towers were handed over for P5.5 billion in cash. Around 353 of those
tower assets are ground-based towers while the rest are rooftop towers.
Globe said that with the latest closing, Frontier Towers has assumed the ownership and management rights of 1,981 or around 56 percent of the acquired towers.
In all, Globe has turned over 3,711 towers worth P47.9 billion, nearly half the total transaction value of P96.3 billion.
