Globe earns over P1.3B from new round of tower sales
Ayala-backed Globe Telecom has pumped up its capital with an additional P1.3 billion raised from the recent closing of its asset sales to independent tower firms.
The telco, with its presence now stretched outside the telco industry, told the local bourse on Thursday that it completed the sale of 12 ground-based towers in Luzon to Miescor Infrastructure Development Corp. (MIDC). The transaction was valued at around P144 million.
Globe also finalized the sale of 84 towers in the Visayas and Mindanao to Phil-Tower Consortium Inc. (PhilTower) for P1.2 billion.
These latest transactions marked the turnover of a total of 6,945 towers under its sale and leaseback portfolio launched in 2022. This eneabled the company to raise P89.3 billion to date.
For this year alone, 273 towers were sold to third-party operators.
Globe president and chief executive officer Carl Raymond Cruz said taking this sale-leaseback approach “signals Globe’s bold steps toward future-ready growth.”
Carlo Puno, Globe’s chief finance officer, said the new round of tower sales has given an added boost to the group’s financial footing.
“This transfer enhances our flexibility to manage liabilities, allocate capital more effectively and support investments in essential infrastructure and digital platforms,” Puno said.
“It enables us to respond to shifting market dynamics with confidence and continue delivering long-term value to all our stakeholders,” the official added.
Aside from MIDC and PhilTower, Globe had also sold tower assets to Aboitiz-backed Unity Digital Infrastructure and Frontier Tower Associates.
These sale and lease back deals are in line with the government’s tower-sharing initiative, which seeks to expand internet access nationwide.
Under this program, telcos can reach more areas without investing in additional infrastructure as they can just opt to lease these assets from tower firms, subsequently allowing them to save capital.
For 2025, Globe said it would spend $1 billion to strengthen its network across the country.
