MANILA, August 1, 2022 – PLDT, Inc. (“PLDT”) (PSE: TEL) (NYSE: PHI), the country’s largest integrated telco, is pleased to announce another transaction milestone in connection with the sale of 5,907 telecom towers and related passive telecom infrastructure for PHP 77 billion announced on April 19th, 2022.
Second closing of the transaction was achieved today with the completion of the sale of 1,013 telecom towers. A corresponding cash consideration of PHP 13.2 billion was received by the Group.
This event follows the first closing attained on June 1st covering 3,012 telecom towers with a consideration of PHP 39.2 billion having been paid to the Group. Out of the 5,907 telecom towers subject to the sale, the Group has to date completed the sale of 4,025 telecom towers representing 68% of the towers portfolio subject to the sale.
PLDT anticipates additional closings over the next few months based on number of towers being transferred, with final closing expected by Q4 2022.
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