Globe nets P8.4B in tower sale to MIDC

By Tiziana Celine Piatos

Oct 15, 2022 12:15 am

GLOBE Telecom Inc. announced it closed the sale of 701 towers out of the 2,180 contracted and related passive infrastructure to be acquired by Miescor Infrastructure Development Corp. (MIDC) for P8.4 billion.

In a disclosure to the Philippine Stock Exchange, the Ayala-led telecommunications company said the tower assets acquired by MIDC are composed of 73 percent ground-based towers and 27 percent rooftop towers.

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