PLDT closes PHP13.2bn sale of second batch of mobile towers

3 Aug 2022

Filipino telecoms operator PLDT Inc. has reportedly completed the sale of a second batch of mobile towers. In a stock market filing, the company confirmed it received PHP13.2 billion (USD237.6 million) for the sale of 1,013 towers.

Previously, in April 2022 PLDT announced that its subsidiaries Smart Communications and Digitel Mobile Philippines (Sun Cellular) had signed agreements to sell 5,907 telecom towers and related passive telecom infrastructure to subsidiaries of edotco Group and EdgePoint, which are respectively part of Malaysia’s Axiata and US-listed DigitalBridge Group. Under the original specifications of the deal, 2,973 towers located primarily in Luzon, Visayas and Mindanao were to be acquired by ISOC edotco Towers and 2,934 towers located in Luzon by Comworks Infratech (owned by EdgePoint). Subsequently, in June PLDT completed the sale of 3,012 telecoms towers to Singapore-based EdgePoint for PHP39.2 billion, while its latest stock market announcement indicates that it has thus far sold 4,025 (68%) of the 5,907 towers covered by the wider deal.

Philippines, PLDT Inc. (incl. Smart Communications and Sun Cellular)