Phil-Tower, MIDC to form JV company

Phil-Tower, MIDC to form JV company

Phil-Tower Consortium Inc (PhilTower) and Miescor Infrastructure Development Corporation (MIDC) revealed plans to form a joint-venture company to fuel the growing demand for 4G and 5G infrastructure in the Philippines. 

The new joint-venture company will own both Phil-Tower and MIDC, with the purpose to maximise their geographic footprints to deliver improved connectivity for customers. 

PhilTower operates 1,250 towers in three regions: Luzon, Visayas and Mindanao. MIDC has over 1,250 towers primarily in Luzon. 

The companies noted there had been a surge in growth in the Philippines information and communications technology sector with investment approvals exceeding US$1.7b (PHP96.16 billion).

The new joint-venture company’s formation is subject to regulatory approval from the Philippines Securities and Exchange Commission and the Competition Commission.

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