After its main competitor sold theirs, Globe Telecom is also thinking of selling some of its tower assets.
In a statement, Globe Telecom chief finance officer Rizza Maniego-Eala said: “We’ve always continued to look out for opportunities with respect to selling our passive assets, which include our towers, and the recent transaction from our competition has made the environment more friendly with respect to selling the towers.”
This news came after its main rival, PLDT Inc., finalized the sale and leaseback deal of their 5,907 towers, for which the company made Php77 billion. This is apparently the biggest ever acquisition of assets in the Philippines by a foreign investor.
It is said that Globe has been exploring ways to monetize its tower assets since 2018. However, the Globe executive said: “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.”
Globe Telecom is continuously pushing to improve its network by teaming up with different tower companies.
As of March, Globe has 91 tower company sites since the beginning of the year. That’s 57% more than last year’s 58 sites during the same period.
During the first quarter of the year, Globe was able to add 252 to its cell sites, bringing their total to 12,194. The company also reported that its 5G network is now available to 95% of the population in the National Capital Region and 80% of Visayas and Mindanao.
Globe has allocated Php89 billion for its capital expenditures this year to help put up new cell sites, upgrade its 4G LTE sites, roll out 5G and fiber.