The Philippines’ largest telco, PLDT, is looking into the sale of the rest of its tower assets.
Per a statement by chief executive Alfredo Panlilio yesterday, the company “will have to consider the balance maybe in the future,” but only after the company has finalized its most recent tower sale and ensure a seamless transition.
PLDT revealed last month that it received bids for 5,907 towers, or 50 percent of its entire tower assets. Fast forward to last week, the telco signed a $1.47 billion deal with foreign firms.
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Credit watcher S&P Global Ratings expects more upcoming tower sales along with leaseback transactions not just from PLDT but also from competing telcos amid the government’s implementation of the common tower policy.