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Macquarie Nearing Philippine Towers Deal With Globe Telecom, Sources Say

  • Communications provider in talks to divest around 1,350 towers
  • Philippine firm sold two other portfolios earlier this year
Updated on

An arm of Macquarie Group Ltd. is in advanced talks to buy a portfolio of about 1,350 phone towers from Philippine provider Globe Telecom Inc., according to people familiar with the matter.

The telecommunications firm and the Australian financial giant are in the final stages of hammering out a deal that could be worth about $400 million, the people said, asking not to be identified as the information is private. Macquarie is poised to buy the assets after outbidding other rivals including local players and global funds, the people said.