Globe Telecom announced today (12 December) the successful completion of the sale of 750 towers to Frontier Tower Associates Philippines for PHP9.5 billion (USD171.3 million). In a regulatory filing, the company said that it has already transferred the ownership of 2,251 out of its 7,059 towers for a total consideration of PHP28 billion – following the first transfer in September when it switched 800 towers to Frontier Towers and 701 towers to another towerco, MIESCOR Infrastructure Development Corp (MIDC). The proceeds of the latest sale will be used for its debt servicing requirements in 2023, with Globe recently noting it is setting aside USD1.3 billion for CAPEX in FY23, around 30% less than the USD1.9 billion it expects to invest this year.
In a separate development, Globe Telecom also announced the commercial deployment of 5G Standalone (SA) technology following its successful live network testing. 5G SA also provides voice call technology or EPS (evolved packet system) that allows automatic shifting to 4G from 5G to ensure undisrupted voice calls, it confirmed. ‘We continue to intensify efforts towards 5G enablement and to bring the latest technology to our customers,’ said Joel Agustin, Globe Senior Vice President for Network Planning and Engineering.
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