Globe Telecom completes tower sale to Frontier Towers for P85.2B | ABS-CBN
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Globe Telecom completes tower sale to Frontier Towers for P85.2B
Globe Telecom completes tower sale to Frontier Towers for P85.2B
ABS-CBN News
Published Jul 25, 2024 10:03 AM PHT
MANILA -- Globe Telecom has completed its tower sale and leaseback deal with Frontier Towers.
MANILA -- Globe Telecom has completed its tower sale and leaseback deal with Frontier Towers.
It closed the last batch of towers for P13.17 billion, wrapping up the transaction for 6,628 towers for P85.2 in proceeds.
It closed the last batch of towers for P13.17 billion, wrapping up the transaction for 6,628 towers for P85.2 in proceeds.
Of the last batch, 84 percent were ground-based towers and 16 percent were rooftop towers.
Of the last batch, 84 percent were ground-based towers and 16 percent were rooftop towers.
The telco giant said it transferred 2,057 towers in 2023.
The telco giant said it transferred 2,057 towers in 2023.
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Globe has been selling tower portfolios to Frontier Tower Associates Philippines Inc., Unity Digital Infrastructure, Phil-Tower Consortium, Inc., and MIESCOR Infrastructure Development Corporation.
Globe has been selling tower portfolios to Frontier Tower Associates Philippines Inc., Unity Digital Infrastructure, Phil-Tower Consortium, Inc., and MIESCOR Infrastructure Development Corporation.
Telco giants have been selling and monetizing their passive assets to help reduce debt.
Telco giants have been selling and monetizing their passive assets to help reduce debt.
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