Globe nets P89B from tower sales

Globe Telecom, Inc. has completed the sale of its final batch of towers to MIESCOR Infrastructure Development Corp. (MIDC), raising a total of P89.3 billion to date from its multi-year tower sale and leaseback program. 

The Ayala-led company said on Thursday that it had turned over 12 ground-based towers in Luzon to MIDC for approximately P144 million, bringing the total number of towers transferred under the program to 6,945.

The sale to MIDC follows a separate transaction involving 84 towers in Visayas and Mindanao, which were sold to Phil-Tower Consortium, Inc. (PhilTower) for approximately P1.2 billion. Of these, 71 are ground-based while the rest are rooftop towers.

“Today marks another milestone in our tower monetization initiative,” Globe Chief Finance Officer Carlo Puno said.

“With the substantial handover of sites, we continue to move forward with our goal of strengthening Globe’s financial position. This transfer enhances our flexibility to manage liabilities, allocate capital more effectively, and support investments in essential infrastructure and digital platforms,” he added. 

Globe has transferred 2,410 towers in 2022, 2,057 in 2023, 2,205 in 2024, and 273 so far this year, including the final batch to MIDC.

Globe President and CEO Carl Raymond R. Cruz said the nearing completion of the entire program “underscores the company’s disciplined execution, strategic focus, and commitment to building a more agile and capital-efficient organization.”

Meanwhile, PhilTower MIDC President and CEO Devid Honore Gubiani said both PhilTower and MIDC now account for 43 percent of all towers transferred by Globe under the initiative.

“This milestone goes beyond numbers. It reinforces our role as a trusted partner in accelerating the country’s digital transformation… We’re laying the backbone of digital inclusion across the nation,” Gubiani said.