Axiata seals PLDT tower deal

Axiata seals PLDT tower deal

Malaysian operator Axiata Group sealed the acquisition and leaseback of 2,710 from PLDT for its Philippines tower company subsidiary.

The company said in a stock exchange filing, that the transfer of 85 sites from Smart and Digital Mobile Philippines, was the final batch of six under a deal signed with Smart Communications parent company PLDT in 2022 by its Philippines-based subsidiary ISOC edotco Towers.

The towers are mainly situated in Luzon, Visayas and Mindanao.

PLDT struck a deal with Frontier Tower Associates Philippines worth PHP12.1 billion (US$220m) in March this year taking the total number of towers sold and leaseback to over 7,500. 

Operators in the Philippines constantly make headlines with tower sales as they race to raise cash for expansion plans. 

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