One of the Philippines’ biggest telecommunications companies, Globe Telecom, is looking to sell some of its infrastructure assets in a divestment strategy that could earn the enterprise an estimated $1.5 billion (around Php79.8 billion), according to the people who were privy to the topic.
Globe is allegedly planning to put 6000 of its towers for sale, following a similar move previously conducted by PLDT Inc. when it sold 77 of its own in April. The towers were bought by EdgePoint Infrastructure Sdn. and edotco Group Sdn., with the support of DigitalBridge Group Inc. Digital, for an overall similar cost of $1.5 billion.
Still unofficial, one Globe representative claims that the aforementioned business plan has not yet gotten approval from the board. However, he suggests that Globe Telecom has its attention of being in partnership with tower companies for its network implementation.
From a published press release, it was revealed that Globe Telecom has some 12,194 cell towers in its portfolio, as of March 2022.
Additionally, its most recent financial statement states that the $6 billion-worth telecommunications enterprise has 87.4 million subscribers.
Via: Yahoo News