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Globe Telecom Inc. has completed the sale of another 120 telecommunication towers to Frontier Tower Associates Philippines Inc. for P1.5 billion.
Globe has closed 2,214 out of 3,529 towers to be acquired by Frontier Tower Associates Philippines Inc. I Photo: Globe Telecom Facebook
This transaction is part of the ongoing sale and leaseback agreements with Frontier Tower Associates Philippines Inc. and Miescor Infrastructure Development Corp.
Globe has closed 2,214 out of 3,529 towers to be acquired by Frontier Tower Associates Philippines Inc., including previous transactions in December of the previous year and in May and August of the current year.
In August 2022, Globe signed agreements with Miescor Infrastructure Development Corp. and Frontier Tower Associates Philippines Inc. for the sale of 5,709 telecommunication towers and related passive infrastructure for approximately P71 billion.
