PLDT announced that they have completed the first closing for 135 towers out of the 650 sale and leaseback deal with Unity Digital Infrastructure for Php1.9 billion.
In a stock exchange disclosure, PLDT said that the closing was completed last May 16, with the master services agreement that covers the leaseback agreement now effective.
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PLDT said that they expect to transfer the additional towers in the coming months “as closing conditions are met”. The complete transfers should be done this year.
The telco giant announced back in December the Php9.2 billion sale and leaseback deal with Unity Digital. Once complete, PLDT’s wireless arm Smart Communications will lease back the towers for 10 years under competitive terms.
As of December, the total number of PLDT towers that have been monetized through sale and leaseback reached more than 6,500 with a worth of over Php86 billion.