Globe Telecom not ditching plan to sell towers

Globe Telecom may still pursue its planned telco tower disposal, but an official said the group is more focused on tapping tower companies.
File photo: Globe Telecom logo

Globe keeping its plan to sell towers?

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

Globe initially floated this plan in 2018.

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

Just last month, PLDT said it inked agreements with foreign firms for the purchase of its nearly 6,000 towers. The transaction has been priced at PHP 77 billion. The agreement with these two towercos also entails that Smart would lease back the towers sold in the transaction for a period of 10 years.

But at the moment, we are continuing to focus on partnering with the same tower companies in a built-to-suit effort to help us with our continued build, Eala said.

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

In 2021, it fired up over 2,000 5G outdoor sites and in-building solutions. Globe also built 1,407 new cell sites, while some 22,300 mobile sites were upgraded.

For this year, the company is looking to spend PHP 89 billion for its network rollout.

Source: Philippine Star

Globe Telecom not ditching plan to sell towers Globe Telecom not ditching plan to sell towers Reviewed by Telenor Editorial on May 11, 2022 Rating: 5

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