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Manila Bulletin devider Business devider The Stock Market devider Globe nets ₱89 billion from tower sales since 2022

Globe nets ₱89 billion from tower sales since 2022

Published Jul 31, 2025 12:10 pm
Ayala-led telecommunications giant Globe Telecom Inc. has raised more than ₱89 billion in proceeds from tower sales, following the transfer of 93 towers to MIESCOR Infrastructure Development Corp. (MIDC) and Phil-Tower Consortium Inc. (PhilTower).
In a disclosure to the Philippine Stock Exchange (PSE), Globe said it has closed the sale of 12 ground-based towers in Luzon to MIDC for approximately ₱144 million.
The company also finalized the turnover of 84 towers in Visayas and Mindanao to PhilTower for about ₱1.2 billion. The bulk of the towers were ground-based, while the remaining are rooftop towers.
This year, Globe has so far completed the sale of 273 towers, generating approximately ₱3.5 billion in proceeds.
Globe said it has netted around ₱89.3 billion in proceeds from the sale of 6,945 out of the 7,506 towers included in its sale and leaseback program.
The company has now turned over 92.5 percent of its tower portfolio, with 2,410 towers transferred in 2022, 2,057 in 2023, and 2,205 in 2024.
Globe President and Chief Executive Officer (CEO) Carl Cruz said reaching the end of its tower monetization initiative signals a bold step for the company towards future-ready growth.
“It underscores our disciplined execution, strategic focus, and commitment to building a more agile and capital-efficient organization,” said Cruz.
“This achievement enables us to intensify efforts toward delivering reliable connectivity to millions of Filipinos—empowering communities, accelerating digital progress, and reinforcing our leadership in a rapidly evolving industry,” he added.
Carlo Puno, chief finance officer (CFO) of Globe, said the transfer of sites will further strengthen the telco’s financial position.
He said this enhances Globe’s flexibility to manage liabilities, allocate capital more effectively, and support investments in essential infrastructure and digital platforms.
“It enables us to respond to shifting market dynamics with confidence and continue delivering long-term value to all our stakeholders,” he said.
Globe is targeting to reach positive free cash flow this year, coupled with an optimized capital utilization.
The telco earlier announced its intent to keep its 2025 capital expenditure (capex) budget below $1 billion, down from last year’s capex of approximately ₱56.2 billion.
With the latest sales, PhilTower and MIDC now account for 43 percent of all sites transferred by Globe under the tower sale and leaseback program.
Both independent tower players, PhilTower and MIDC entered into a joint venture (JV) last year to consolidate their tower infrastructure to meet the growing demand for 4G and 5G mobile connectivity nationwide.
“The seamless handover reflects our profound alignment with Globe and our shared commitment to advancing national connectivity,” said PhilTower MIDC President and CEO Devid Honore Gubiani.
“This deal was never just about infrastructure. It’s about empowering mobile network operators to expand better service experience for millions of Filipinos more rapidly and cost efficiently,” he added.

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