PLDT Sells Towers to KKR-Backed Frontier for $220 Million
- PLDT units divest over 1,000 towers in sale and leaseback deal
- Telecom provider sold two tower portfolios in April 2022
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PLDT Inc. agreed to sell a portfolio of telecommunications towers to a firm backed by KKR & Co. for over 12.1 billion pesos ($220 million), as part of a program to divest digital infrastructure assets.
Smart Communications Inc. and Digitel Mobile Phils. Inc., two subsidiaries of the Philippines-based telecom and digital services provider, will sell 1,012 towers and associated infrastructure to Frontier Tower Associates Philippines Inc., according to a statement Friday confirming an earlier Bloomberg News report.