After concluding a large agreement with Unity Digital Infrastructure, Globe has surpassed its goals for tower sales. Globe has been actively selling its non-strategic infrastructure since last year, with an aim to offload 7,000 towers in what may be the largest-ever sale and leaseback transaction in the Philippines. The most recent deal with Unity raised the figure to above 7,500, which signifies the cap of its divestiture strategy. We will see if there are any more opportunistic transactions for the balance year but the fact that we're at 7,509 is already over our target,” Globe Chief Finance Officer Rizza Maniego-Eala said at a recent briefing when asked if Globe plans to sell more towers. Out of the 7,059 assets purchased by tower firms so far, Globe has successfully transferred 44%, or 3,120, netting almost P40.5 billion. Globe will invest the earnings from the sale of the tower in capital projects, helping to strengthen the company's financial position. Through the successful closing of four tower sales with Phil-Tower Consortium, Inc. In addition to PhilTower's vow to build 750 more towers throughout the Visayas and Mindanao areas, Globe has successfully handed over 710 of the 1,350 towers that it had built. Apart from PhilTower, 39% of the 2,180 towers and associated passive telecom infrastructure included in the first Globe portfolio have been awarded to MIESCOR Infrastructure Development Corporation (MIDC). Read more in our articles including "Globe gross earnings reach almost P100B, exceeding tower sale targets" and "Globe drops Visibility Prepaid Kit price to Php3,500".
