Globe Telecom Inc. said Friday said it transferred 29 towers to MIESCOR Infrastructure Development Corp. for P348 million. Globe said
Globe Telecom Inc. said Friday said it transferred 29 towers to MIESCOR Infrastructure Development Corp. for P348 million.“There will be multiple closing dates which will happen as and when closing conditions are met,” Globe said.
Globe signed in August 2022 separate agreements with MIDC and Frontier Tower Associates Philippines Inc. for the sale of 5,709 towers amounting to P71 billion. Globe said 75 percent of the proceeds from the sale of the towers would finance its network expansion, while 25 percent would be used to pay maturing debts.
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