Operators

Globe raises more cash in latest tower sale

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Globe raises more cash in latest tower sale

Globe Telecom announced it gained PHP13.5 billion (US$230 million) from the transfer of more towers as it seeks more cash to pay down debts and fund future capex intensive projects.

In 2022, the operator signed a deal to sell 5,709 towers to MIESCOR Infrastructure Development Corporation (MIDC) and Frontier Tower Associates Philippines for PHP71 billion (US$1.2 billion).

With the closing of the latest tranche of towers, Globe has transferred 1,037 towers to Frontier. The tower company now has 100% of the 3,529 towers it acquired from Frontier for PHP45 billion.  

Operators globally have been selling off passive infrastructure and signing leaseback deals globally to fund expensive 5G deployments, against a backdrop of flattening financial results.



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