According to people with knowledge of the matter, Globe Telecom is considering selling part of its tower portfolio in a deal that could be worth as much as 1.5 billion dollars.
About 6,000 of the company's towers could be included in the planned sale, according to people familiar with the matter. People who asked not to be identified as the information is private said Globe Telecom is working with an adviser to gauge interest from potential buyers.
The company could not make a decision on a sale at this early stage.
Globe Telecom has not received board approval to date for a sale or leaseback transaction of its tower assets. Globe Telecom is trying to work with different tower companies.
Globe Telecom is in the process of selling off some of its assets in order to focus on digital infrastructure.
The recent transaction from PLDT has made the environment more friendly for a sale of Globe Telecom's tower assets, according to the chief finance officer. As of the end of March, the company had over 12,000 cell towers.
According to the company's latest financial statement, it has 87.4 million mobile subscribers. Since the beginning of the year, it has brought 91 tower company sites on air in 16 provinces. Singtel is a shareholder of Globe Telecom.
Ian C Sayson and Ditas B Lopez helped with the project.
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