GLOBE Telecom Inc. has completed another round of tower sale and leaseback deals worth P1.34 billion, transferring a total of 96 towers to Miescor Infrastructure Development Corp. (MIDC) and Phil-Tower Consortium Inc. (PhilTower).
With the latest transaction, Globe has turned over a total of 6,945 towers under its sale and leaseback program, generating approximately P89.3 billion in proceeds.
In a disclosure on Thursday, Globe said 12 ground-based towers located in Luzon were sold to MIDC for approximately P144 million while 84 towers in the Visayas and Mindanao — 71 ground-based and the rest rooftop — were sold to PhilTower for about P1.2 billion.
The move forms part of Globe’s ongoing efforts to optimize its infrastructure assets and strengthen its financial position.
“Today marks another milestone in our tower monetization initiative,” Globe Chief Finance Officer Carlo Puno said in a statement.
“With the substantial handover of sites, we continue to move forward with our goal of strengthening Globe’s financial position. This transfer enhances our flexibility to manage liabilities, allocate capital more effectively and support investments in essential infrastructure and digital platforms.”
This includes 2,410 towers transferred in 2022, another 2,057 in 2023 and a third batch of 2,205 in 2024. So far this year, the sale of 273 towers has been closed.
Globe President and CEO Carl Raymond Cruz said: “Progressing toward the completion of our tower sale and leaseback program signals Globe’s bold steps toward future-ready growth.”
“It underscores our disciplined execution, strategic focus and commitment to building a more agile and capital-efficient organization,” he added.
PhilTower and MIDC now account for 43 percent of all sites transferred under the program, PhilTower MIDC President and CEO Devid Honore Gubiani said.
“This affirms our leadership in the country’s digital infrastructure rollout,” he added.
Globe Telecom shares on Thursday climbed P6.00, or 0.36 percent, to P1,670 each.
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