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Globe sells another P20 billion worth of telco towers, total sale now at P91 billion

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<p>MANILA - Globe Telecom on Tuesday said it signed a third sale and leaseback deal with Phil-Tower Consortium Inc worth P20 billion which brought its total sold portfolio to 7,059 towers with proceeds of about P91 billion.</p><p>The third portfolio is composed of 1,350 towers with an estimated value of P20 billion, the telco said in a disclosure to the stock exchange.</p><p>Globe said the towers, mostly located in Visayas and Mindanao will be leased back to Globe for an initial of 15 years. It said pre-tax transaction gain from the deal is at P5.2 billion.</p><p>Globe earlier sold 2 other portfolio composed of 5,709 towers for P71 billion. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/16/22/globe-says-5709-tower-assets-to-sell-for-about-p71-b">Globe says 5,709 tower assets to sell for about P71 billion</a></li></ul><p>Upon completion of the overall transaction for all the tower assets for sale, Globe&#x27;s deal will become the country&#x27;s largest ever tower sale and leaseback deal, it said.</p><p>&quot;This record-setting deal shows Globe&#x27;s commitment to capital efficiency and financial sustainability. Through this initiative, we ensure our balance sheet health, which allows us to properly complete and fortify our market leading position,&quot; Globe Chief Finance Officer Rosemarie Maniego-Eala said.</p><p>Globe&#x27;s rival, PLDT Inc, earlier sold over 5,900 telco towers for P77 billion.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/19/22/pldt-sells-59k-telco-towers-for-p77-billion-to-two-towercos">PLDT sells 5.9k telco towers for P77-B to two towercos, leases them back for 10 yrs</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1679124" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Globe said it signed a third sale and leaseback deal with Phil-Tower Consortium Inc worth P20 billion which brought its total sold portfolio to 7,059 towers with proceeds of about P91 billion.