Globe has just signed a deal with Unity Digital Infrastructure for the sale and leaseback of 447 towers with total proceeds of Php 5.4 billion. The sale was announced by Globe Chief Executive Officer Ernest Cu today in a briefing held with members of the media.
Unity Digital Infrastructure is a joint venture telecommunications infrastructure platform by the Aboitiz Group and Partners Group.
According to the telco, they will receive the amount in tranches as the towers are turned over to Unity Digital.
Asked whether Globe has any plans to sell more towers, Globe’s Chief Finance Officer Rizza Maniego-Eala shared that Globe had already hit their target of 7,000 towers — with their sales already amounting to a total of 7,500.
“We will see if there are any more opportunistic transactions for the balance year but by and large, I think we are only targeting 7,000 so the fact that we’re already at 7,500 is already over our target,” she added.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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