Globe Telecom Inc. said Wednesday it completed the sale of 90 telecommunications towers worth around P1.3 billion to Phil-Tower Consortium Inc.
The latest tower sale is part of a deal Globe reached in September 2022 with PhilTower for the disposition of 1,350 towers. As part of the deal, PhilTower will leaseback the towers to Globe.
With the latest sale, Globe said the total number of towers turned over to PhilTower already reached 1,000 worth a combined P14.9 billion.
PhilTower is expected to spend around P20 billion to acquire from Globe the 1,350 towers.
Globe also agreed to sell 2,180 towers to Miescor Infrastructure Development Corp. for P26 billion; 3,529 towers to Frontier Tower Associates Philippines Inc. for P45 billion; and 447 towers to Unity Digital Infrastructure Inc. valued at P5.4 billion.
