Globe maintains plan to sell towers

Globe maintains plan to sell towers

Globe Telecom said its towers are still on the market and it does not feel the pressure to sell assets immediately despite rival PLDT’s recent billion-dollar deal.

Globe chief finance officer Rizza Maniego-Eala said: “We’ve always continued to look out for opportunities with respect to selling our passive assets, which include our towers, and the recent transaction from our competition has made the environment more friendly with respect to selling the towers,” Philippine Star reported. 

Globe's rival PLDT inked a PHP77 billion ($US1.4 billion) sale and leaseback deal in May, which saw 5,907 towers and other infrastructure gear going to Edgepoint and Edotco. This was the largest acquisition of assets by foreign companies ever in the Philippines. 

“But at the moment, we are continuing to focus on partnering with the same tower companies in a built-to-suit effort to help us with our continued build,” Maniego-Eala said.

Globe currently has 12,194 towers as of the end of its first quarter after adding  252 to the total. The company has outlined PHP89 billion for CAPEX this year which will be used to upgrade 4G sites, accelerate its 5G deployment and boost its fibre broadband network.

 

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