Globe Telecom mulls $1.5 billion tower sale

Globe Telecom mulls $1.5 billion tower sale

Globe Telecom is reportedly considering a sale of half of its tower portfolio which could net the firm around US$1.5 billion, a move that would fund long-term 5G rollout plans and keep it on the heels of rival PLDT. 

BNN Bloomberg reported, the Philippines-based operator is mulling the sale of 6,000 of its towers in the sale, citing sources close to the matter. It is also working with an adviser to gauge interest before commencing formal bidding.

This latest development follows rival PLDT signing a “landmark” US$1.4 billion deal to sell 5,900 towers with Axiata Group, Edotco and EdgePoint. At the time, Globe stated it did not feel pressured to follow suit but was seeking buyers.

Operators in the Philippines have been in competition to sell off tower assets to improve efficiencies and boost coverage in the country. Globe stated it saw a massive boost in data usage on its 5G networks last year.

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