Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

PLDT receives P13.2B on sale of 1,013 telecom towers

by
August 1, 2022
in Investing News
0
PLDT receives P13.2B on sale of 1,013 telecom towers
0
SHARES
33
VIEWS
Share on FacebookShare on Twitter

PLDT, Inc. announced on Monday the second closing of a transaction involving the sale of 5,907 telecom towers and related passive telecom infrastructure for P77 billion.

“Second closing of the transaction was achieved today with the completion of the sale of 1,013 telecom towers,” PLDT said in a disclosure to the stock exchange.

The group received a corresponding cash consideration of P13.2 billion.

“This event follows the first closing attained on June 1 covering 3,012 telecom towers with a consideration of P39.2 billion having been paid to the group,” PLDT noted.

PLDT has sold 4,025 of the 5,907 telecom towers up for sale, or 68%.

It anticipates additional closings over the next few months based on the number of towers being transferred, with final closing expected by the last quarter.

To recall, PLDT announced in April that its subsidiaries, Smart Communications, Inc. and Digitel Mobile Philippines, Inc., had signed sale and purchase deals in connection with the sale of of the towers and related passive telecom infrastructure to the subsidiaries of international telecommunications infrastructure services companies edotco Group and EdgePoint.

The 5,907 towers — almost half of PLDT’s total tower portfolio — are spread across the Philippines, with 2,973 being acquired by ISOC edotco Towers, Inc., a subsidiary of edotco Group, and 2,934 towers by Comworks Infratech Corp., a subsidiary of EdgePoint.

With the cash from this transaction, the group aims to prepay P27.5 billion in debt maturing this year.

PLDT shares closed 0.06% lower at P1,655 apiece on Monday.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it control. — Arjay L. Balinbin

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
FAMAS-winning Katips: The Movie premieres this week

FAMAS-winning Katips: The Movie premieres this week

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Welzo: The New Med-tech Start-up Taking the UK Healthcare System by Storm

Welzo: The New Med-tech Start-up Taking the UK Healthcare System by Storm

July 31, 2022
Director Lars von Trier diagnosed with Parkinson’s disease

Director Lars von Trier diagnosed with Parkinson’s disease

August 9, 2022

Top Anheuser-Busch marketing executive is leaving after collapse in Bud Light sales

November 19, 2023
Turkey lifts veto on Finland, Sweden joining NATO, clearing path for expansion

Turkey lifts veto on Finland, Sweden joining NATO, clearing path for expansion

June 29, 2022
CA rejects plea by Ampatuan for hospital transfer

CA rejects plea by Ampatuan for hospital transfer

July 10, 2022
Waitrose removes best-before dates from fresh food to reduce waste

Waitrose removes best-before dates from fresh food to reduce waste

August 1, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.