250 Philtower assets now up and running

MANILA  -Telecommunication tower company Phil-Tower Consortium Inc. (PhilTower) is now fully operating 250 tower assets it acquired from Globe Telecom five months after turnover.

In a statement on Monday, the Ayala-led telco player said that Philtower was able to establish two regional operational centers to begin operations.

The parties entered into a P20-billion sale and leaseback deal for 1,350 towers in September last year. The first batch of 578 towers were transferred to Philtower in February.

The transaction was in line with the government’s common tower policy, which supports colocation services. This means independent tower companies can build up their shared telecom tower assets that can be tapped by any local player to expand wireless network coverage across the country.

“This is yet another big milestone for us of full operational handover of towers from Globe. PhilTower believes in its organizational pillars such as people, process, technology readiness and a faster way of asset management to achieve takeover in a short span of time,” Philtower CEO Devid Gubiani said. INQ