PLDT says sale of 1,013 telecom towers completed in P77-B deal

ABS-CBN News

Posted at Aug 01 2022 04:22 PM

MANILA - PLDT Inc on Monday said the sale of 1,013 telecom towers out of the total P77 billion worth 5,907 towers has been completed.

The second closing of transaction was achieved with the completion of the sale of 1,013 tower worth P13.2 billion, PLDT Inc said in a disclosure to the stock exchange.

The first closing was attained on June 1 covering 3,012 telecom towers worth P39.2 billion paid to the group, it added.

So far, PLDT said it has completed the sale of 4,025 towers out of the 5,907 portfolio, or 68 percent of the total towers for sale. The towers were sold to common tower operators edotco and EdgePoint.

It said additional closings are expected over the next few months. 

The telco earlier said part of the proceeds is allocated for debt repayment. 

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