Philippines’ PLDT sells more telecoms towers for $164 million

MANILA : Philippines’ PLDT Inc said on Friday it signed a deal for the sale and leaseback of 650 telecoms towers for 9.2 billion pesos ($164.79 million).

The agreement brings the total number of towers sold by PLDT to 6,500 in three batches valued at 86 billion pesos, as it lets go of passive assets to reduce debt and fund an expansion programme.

($1 = 55.83 Philippine pesos)

 

Source: Reuters