GLOBE Telecom has initiated discussions with independent third parties for the establishment of a tower company to help speed up the build and deployment of cellular towers in the Philippines.
Globe is looking at divesting all or part of its tower assets to independent tower companies as part of its network expansion and optimization plan.
To date, Globe has over 8,000 cell towers nationwide.
Globe president and CEO Ernest Cu said, “We have been allocating over 30 percent of our total revenues to capital expenditure for the past five years and this level will be sustained over a period of time. An independent tower company will be a win-win solution. It will monetize assets for capex use and help maintain our consistent dividend policy.” (PR)