Globe Telecom, the largest mobile network operator in the Philippines, is nearing the completion of a significant financial maneuver: selling off their communication towers. In the last three years, they have divested 6,945 towers and secured PHP89.3 billion ($1.5 billion). This strategic move aims to bolster their financial stance by reducing maturing debts.
Recent transactions contributed substantially to this initiative. Globe sold 12 ground-based towers to MIESCOR Infrastructure Development Corporation in Luzon for PHP144 million. Additionally, 84 towers in the Visayas and Mindanao regions were sold to PhilTower Consortium, netting PHP1.2 billion. These transactions consist of 71 ground-based and 13 rooftop sites.
Having begun this process in 2022, Globe has made considerable headway each year, with the highest number of towers sold in 2024 at 2,205. In 2025, 273 towers have already been transferred, significantly enhancing the company’s financial flexibility and liquidity.
Carlos Puno, Globe’s CFO, stated, “Today marks another milestone in our tower monetization initiative… This transfer enhances our flexibility to manage liabilities, allocate capital more effectively, and support investments in essential infrastructure and digital platforms.”
CEO and President Carl Raymond Cruz highlighted the importance of these sales in enabling Globe to become a more agile operator. The sale of towers is aimed at future-proofing the company against financial strain and preparing for upcoming expansions.
Out of all towers sold, 43% were acquired by MIDC and PhilTower; the rest went to Frontier Tower Associates Philippines. This wide distribution ensures their operational continuity while allowing for financial optimization.
