PLDT plans PHP78bn 2020 CAPEX spend

13 Jan 2020

The Philippines’ largest telco by subscribers and revenue, PLDT Inc., has revealed plans to invest more than PHP78 billion (USD1.54 billion) in its mobile and fixed broadband networks in 2020, with chairman Manuel Pangilinan confirming that the proposed capital expenditures spend will be ‘bigger than 2019, slightly bigger’. PLDT eventually spent PHP78.4 billion in FY 2019, with a sizeable sum committed to the expansion of its fibre-optic broadband services and for high-capacity links between base stations for mobile arm Smart Communications.

PLDT says it will use the proceeds from the sale of some of its real estate assets as well as shares in German firm Rocket Internet to finance this year’s CAPEX spend. The telco owns a 2% stake in Rocket Internet, having already sold a 4.1% stake in the venture in May 2018 for PHP10.5 billion.