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Globe Telecom said in advanced talks for US$1.5 billion tower sale

Bloomberg6/30/2022 09:21 AM GMT+08  • 2 min read
Globe Telecom said in advanced talks for US$1.5 billion tower sale
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Globe Telecom has entered exclusive talks with bidders for its telecommunication tower portfolio in a deal that could be worth as much as US$1.5 billion, according to people with knowledge of the matter.

The Filipino telecom giant is considering selling about 6,000 towers in a two-part deal, said the people, who asked not to be identified as the information is private. A consortium comprising Stonepeak Partners and local power retailer Manila Electric Co., known as Meralco, is in discussions for some of the assets, they said.

Another party consisting of buyout firm Partners Group Holding AG and Aboitiz Group, a conglomerate owned by the billionaire Aboitiz family, is negotiating for the remainder of the portfolio, according to the people.

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