PLDT Incorporated has completed the sale and leaseback of 5,907 of its telecommunication tower assets in the Philippines to Malaysia-based edotco Group and Singapore-based EdgePoint Infrastructure in an attempt to reduce financing costs. These towers account for about 50 per cent of its entire tower network and the total value of the sale is PHP77 billion.
Out of the total, edotco Group will acquire 2,973 towers through ISOC edotco Towers Incorporated in a deal valued at PHP42 billion. These will be primarily located in Luzon, Visayas and Mindanao. On the other hand, under a PHP35 billion deal EdgePoint will acquire 2,943 towers in Luzon through Comworks Infratech Corporation.
The sale only includes physical tower structures and passive equipment and not primary radio equipment.
