ABS-CBN News
MANILA — Globe Telecom said on Monday the total proceeds for its sale and leaseback of telco towers reached P96.322 billion.
Globe said it earlier aimed to offload 7,000 towers but the portfolio grew to over 7,500 following its deal with Unity Digital Infrastructure.
A total of P5.4 billion were generated under its deal with Unity Digital Infrastructure for 447 towers, it said.
“At the moment I think we have upped our tower sale. We will see if there are any more opportunistic transactions for the balance year but the fact that we’re at 7,509 is already over our target,” Globe Chief Finance Officer Rizza Maniego-Eala said at a recent briefing when asked if Globe planned to sell more towers.
To date, Globe said it has transferred 44 percent or 3,120 assets out of the over 7,500 towers.
Proceeds from the sales will be used for Globe’s capital expenditure investments, it said.
Globe also signed tower sale deals with Phil-Tower Consortium, Inc, MIESCOR Infrastructure Development Corp and Frontier Tower Associates Philippines.
RELATED VIDEO