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PLDT sells tower business for $1.47bn

The transaction price makes the deal the largest ever acquisition of assets in the Philippines by international investors.

By João Marques Lima

Founder and Editor, The Tech Capital

4 Mins

April 20, 2022 | 12:54 AM BST

PLDT sells tower business for $1.47bn

PLDT Chairman Manuel V. Pangilinan. Source: PLDT

The Tech Capital

Philippian telco PLDT Inc. (PSE: TEL) (NYSE: PHI) said that its subsidiaries, Smart Communications, Inc. and Digitel Mobile Philippines, Inc., have signed Sale and Purchase Agreements in connection with the sale of 5,907 telecom towers and related passive telecom infrastructure for PHP 77 billion (US$1.47 billion).

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João Marques Lima

Founder and Editor, The Tech Capital

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