Globe Telecom Inc. on Tuesday received P1.4 billion for the first closing of 115 towers sold to Unity Digital Infrastructure (Unity).
The Ayala-led telco said the transaction was the first tranche of the 447 sale-and-leaseback deal with Unity.
With this development, Globe already raised P49.3 billion or 51 percent of the tower deal and turned over the ownership of 3,826 of 7,506 towers sold.
“The country’s digital landscape continues to evolve so we build relationships that allow us to address industry changes and pain points in the market that will effectively improve our bottom line,” Rizza Maniego-Eala, Globe chief finance officer, said.
“Our deal with Unity and corresponding first closing of tower sale today are aligned with our efforts to enhance customer experience and to develop operational agility and efficient calibration of resources. I’m looking forward to completing this transaction with Unity in parallel with achieving cost efficiency in terms of infrastructure management,” she added.
Cosette V. Canilao, president and chief executive of Aboitiz InfraCapital, said the company is committed to its role of nation-building through infrastructure.
Canilao said its partnership with Globe is testament to the commitment in bridging the digital gap in the country and promoting digital inclusion.
“Creating digital solutions that improve the lives of Filipinos has been Globe’s purpose as a technology company, from developing an ecosystem of customized experiences for retail and enterprise customers to ensuring a robust network that optimizes connectivity and digital innovations,” Ernest Cu, Globe president and chief executive, said.
“This collaboration between Globe and Unity is crucial to achieving that objective and is one of the transactions underpinning growth for Globe and its expanding portfolio of companies,” he added.
