PLDT Incorporated has raised PHP12.1 billion from the sale of 1,012 telecom towers in the Philippines, in a move to dispose of some of its assets. The towers will be transferred to Frontier Tower Associates Philippines Incorporated gradually by the end of 2023. UBS AG was the financial adviser for the transaction.

Since PLDT started liquidating its assets in 2022, the agency has disposed of over 7,500 towers, generating PHP98 billion from the sales.