Globe planning to sell off tower assets, paper says

Globe Telecom is looking to sell its tower assets, a report in The Philippine Star claims, although it is apparently in no urgent rush to do so. The paper quotes the telco’s chief finance officer Rizza Maniego-Eala as saying: ‘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.’ Whilst the company has been looking into the possibility of monetising its tower asset portfolio for the past four years or so, it is not racing to replicate rival PLDT Inc.’s PHP77 billion (USD1.46 billion) sale and leaseback agreement inked last month. ‘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,’ Maniego-Eala said.