PLDT Inc. said Wednesday said it completed the sale of 3,012 towers to two international tower operators for P39.2 billion.
The company foresees additional closings of the transactions in the next few months as the deals are staggered based on number of towers being transferred.
PLDT sold 5,907 telecom towers and related passive telecom infrastructure for P77 billion to a subsidiary of EdgePoint and a subsidiary of edotco. The final closing of the transaction is expected by theb fourth quarter of 2022.
Of the 5,907 towers being monetized, 2,973 towers in Luzon, Visayas and Mindanao will be acquired by ISOC edotco Towers,Inc. (subsidiary of edotco Group) and 2,934 towers located in Luzon by Comworks Infratech Corp. (subsidiary of EdgePoint).
PLDT said the sale and leaseback will be complemented by a new tower build commitment of 1,500 towers in total over the next few years. Darwin G. Amojelar