In a deal worth Php77 billion, PLDT has officially sold close to 6,000 cell towers and related passive telecom infrastructure of Smart and Sun Cellular to foreign investors.
The cell towers were sold to edotco and EdgePoint, making the two foreign companies the largest common tower operators in the Philippines.
PLDT will also be renting these same towers for the next 10 years for use with Smart’s network. The move is said to free PLDT from costly maintenance of these towers in the long run.
At the same time, since these towers are operated by 3rd party companies, other carriers (like Globe and DITO) are now able to rent the same instead of building their own towers in those areas. Recently, Globe announced that it has 91 towercos since the start of 2022. Smart also announced that Sun Postpaid will fold into Smart Postpaid this April 25.
Source: Yugatech
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