The biggest phone company in the Philippines, PLDT Inc., sold more cell tower assets and made more than ₱9 billion. This gives them more money to spend on network upgrades in 2023.
The new towers were sale to Unity Digital Infrastructure Inc. An independent tower operator backed by the Aboitiz InfraCapital Inc. and Partners Group.
PLDT said that its wireless companies, Smart Communications Inc. and Digital Mobile Philippines Inc. Signed a deal to sell 650 towers for ₱9.2 billion.
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Most of the towers in question are in Visayas and Mindanao. With this, PLDT hopes that the internet service in these areas will improve. Since Unity has promised to make the tower assets reach more people.
Smart and Unity also made a deal with the same terms, including rates and length of time, as the tower deals they made in April. As the anchor tenant, Smart will rent back the telco towers on competitive terms for up to 10 years as part of the deal.
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During this time, Smart will add 200 more towers over the next few years to spread out Its network and make things better for customers all over the country.
Alfredo Panlilio, the CEO of PLDT, said that the towers will be give to Unity before the end of 2023.
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