AYALA-LED Globe Telecom, Inc. announced on Monday that it recently received P1.9 billion for 159 towers bought by MIESCOR Infrastructure Development Corp. (MIDC).
AYALA-LED Globe Telecom, Inc. announced on Monday that it recently received P1.9 billion for 159 towers bought by MIESCOR Infrastructure Development Corp. .
“These tower assets are composed of 120 ground-based towers and 39 rooftop towers,” the company added. “Cumulatively, Globe has already completed 34% of the sale or a total of 2,410 towers out of 7,059 have been transferred to the tower companies,” the company said. Subsequent closings will take place next year.
“Monetizing our tower assets is very timely because it has allowed us to keep our balance sheet healthy amid a rising interest rate environment,” she added.
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