Deals
Philippines’ PLDT Said to Weigh $800 Million Telecom Towers Sale
- Makati-based company working with adviser on planned sale
- PLDT could even seek as much as $1 billion in a disposal
Photographer: Jay Directo/AFP/Getty Images
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PLDT Inc., the Philippines’ biggest telecommunications and digital services provider by market value, is considering selling its local towers in a deal that could be worth about $800 million, according to people with knowledge of the matter.
The Makati-based company is working with an adviser on the planned disposal, said the people, who asked not to be identified as the process is private. A transaction would involve PLDT selling the towers and then leasing them back, the people said. The company could be seeking as much as $1 billion from a sale, one of the people said.