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Globe says 60 pct of tower sale, leaseback deal completed

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ABS-CBN News

MANILA -- Globe Telecom on Tuesday said it has completed 60 percent of its P96 billion tower sale and leaseback deal, raising P57.4 billion to date.In a statement, the telco giant said it had successfully transferred 2,057 towers in 2023. Its last transaction for the year is the third, closing 79 towers sold to Unity Digital Infrastructure for P948 million. It transferred 115 towers to Unity Digital Infrastructure in July.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/18/23/globe-closes-sale-of-115-towers-to-aboitiz-unit">Globe closes sale of 115 towers to Aboitiz unit</a></li></ul>Globe said it has officially turned over the ownership of 4,467 towers out of 7,506 towers sold.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/22/23/globe-says-total-tower-sale-proceeds-nears-p100-b">Globe says total tower sale proceeds nears P100-B</a></li></ul>Aside from its deal with Unity, Globe sold tower portfolios to Frontier Tower Associates Philippines Inc., Phil-Tower Consortium, Inc. and MIESCOR Infrastructure Development Corporation. Telco giants have been selling and monetizing their passive assets to help reduce debt.

Globe Telecom said it has completed 60 percent of its P96 billion tower sale and leaseback deal, raising P57.4 billion to date.