PLDT gets P13.2B for second batch of towers sold

Telco giant PLDT has received P13.2 billion after closing the second batch of the nearly 6,000 telecom towers it is monetizing under a sale and leaseback towers deal signed last April.

PLDT said the second closing of the transaction was achieved today with the completion of the sale of 1,013 telecom towers.

The sale of the first batch, involving 3,012 telecom towers, was completed last June with PLDT receiving a cash consideration of P39.2 billion.

Last April, PLDT announced the sale of 5,907 telecom towers and related passive telecom infrastructure for P77 billion. These facilities were sold to Comworks Infratech Corp. and ISOC edotco Towers.

PLDT has completed tthe sale of 4,025 telecom towers, representing 68 percent of the towers portfolio subject to the sale.

Final closing is seen happening by the fourth quarter of the year.