Globe Telecom looking to sell tower assets for USD 1.5 billion

Globe Telecom may gain USD 1.5 billion for the disposal of its tower assets.

File photo: Globe Telecom logo

Globe to sell towers?

According to a report by Bloomberg, the telco giant may sell about 6,000 towers. Discussions about this, however, are still at an early stage and the group may decide to put off the plan.

This report comes after its main rival PLDT sold its towers for PHP 77 billion last April to foreign investors, edotco Group and EdgePoint.

Sought for comment, Bloomberg stated that a Globe representative said the group's board has yet to greenlight a sale or leaseback transaction of its tower assets.

Globe chief finance officer Rizza Maniego-Eala earlier said during a briefing that the company has "always continued to look out for opportunities with respect to selling our passive assets, which include our towers..."

Eala acknowledged that the recent transaction of PLDT has "made the environment more friendly with respect to selling the towers".

Globe ended the first quarter with 91 tower company sites on air, up by nearly 57 percent from the sites completed a year ago.

Source: Bloomberg