Deals
Philippines’ Globe Telecom Seeking $1.5 Billion for Towers
- Firm is working with adviser on deal for about 6,000 towers
- Rival PLDT raised $1.5 billion from towers sale in April
A Globe Telecom Inc. Iconic store in Manila.
Photographer: Veejay Villafranca/BloombergThis article is for subscribers only.
Globe Telecom Inc. is weighing selling around half of its telecommunications tower portfolio in a deal that could be worth as much as $1.5 billion, according to people with knowledge of the matter.
The Manila-listed company, which counts Singapore Telecommunications Ltd. and Filipino conglomerate Ayala Corp. among its largest shareholders, is considering including about 6,000 of its towers in the planned sale, the people said. Globe Telecom is working with an adviser to gauge interest from potential bidders ahead of starting a formal sale process, said the people, who asked not to be identified as the information is private.