PLDT mulls sale of non-strategic towers to shore up financial position

6 Aug 2021

PLDT Inc. is reportedly ‘open to the idea’ of divesting tower assets that are considered to be ‘not strategic’ in maintaining its position in the market. Bloomberg cites chairman Manuel V. Pangilinan as saying that such a move would help shore up the group’s financial position. In confirming rumours that PLDT is mulling the possibility of offloading part of its tower portfolio with an expectation of raising up to USD800 million in the process, the executive did, however, voice a certain reluctance to do so given that, in his words, the group has ‘the most extensive and best network’ in the Philippines.