Globe Telecom said Wednesday it closed a deal for the sale of 90 more towers to PhilTower for about P1.3 billion.
The latest batch of towers brought the total number of transferred towers to 1,000 worth P13.6 billion out of the total 1,350 towers.
The total value of the entire deal is estimated at P20 billion.
Globe said last month it transferred 282 out of the 447 towers to be acquired by Unity Digital Infrastructure (Unity), a partnership between Aboitiz InfraCapital (AIC) and Partners Group.
Globe also transferred 1,348 towers to MIESCOR Infrastructure Development Corp. (MIDC).
Globe in August 2022 agreed to sell then leaseback all its 5,709 telecommunications towers and relative passive infrastructure in two deals worth P71 billion. It said of the total, 2,180 towers would be sold to MIDC for P26 billion and 3,529 towers would be transferred to Frontier Tower Associates Philippines Inc. for P45 billion.
Globe reported a net income of P24.6 billion in 2023, down 29 percent from P34.60 billion in 2022. Excluding the impact of the one-time gains, normalized net income would have been P19.1 billion, down by 4 percent from 2022.
Globe’s consolidated service revenues rose 3 percent to P162.3 billion from P158 billion.
