Globe Telecom Inc. has cashed in P30 billion from its P91-billion tower sale and leaseback deals as it continues to transfer assets to buyers.
In a disclosure on Monday, the Ayala-led telecommunications company said it had transferred additional 159 towers to MIESCOR Infrastructure Development Corp. (MIDC), receiving P1.9 billion. These include 120 ground-based towers and 39 rooftop towers.
Globe has turned over 860 out of the 2,180 towers sold to MIDC. In total, it has transferred 2,410 out of 7,059 towers under several sale and leaseback deals to buyers, which also include Frontier Tower Associates Philippines and Philtower Consortium Inc. INQ
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