PLDT plots more tower sales

PLDT plots more tower sales

Philippines-based operator PLDT revealed there are several interested parties in buying 2,000 telecom towers from its portfolio.

To solidify the potential sale the operator requested the parties to submit letters of intent as the first step to a formal bid, reported CommsUpdate.

PLDT present and CEO Alfredo Panlilio told the media a potential deal could be completed before the end of the year if a letter of intent can be submitted soon.

PLDT and rival Globe Telecom are currently in a race to offload passive infrastructure such as telecom towers to raise cash for expansion and debt payments.

So far, PLDT has sold over 5,907 towers mainly to its subsidiaries edotco and EdgePoint Infrastructure, raising a total of PHP77 billion (US$1.3 billion).

ABI Research industry analyst Matthias Foo told Developing Telecoms, going heavy into tower sales cuts down the competitive advantage of having coverage over its rivals in hotspots, but operators are facing pressure to pay off maturing debts. 

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