New laws in the Philippines are expected to support mergers and acquisition (M&A), which declined in 2022 to $8.1 billion in value for 33 deals from $9.961 billion in 2021, as companies capitalize on this strategy to expand and grow their business, according to consultancy firm PwC Philippines.
Ayala-led Globe Telecom Inc. has received nearly P2 billion from the transfer of ownership of 159 towers to a unit of Manila Electric Co., marking the final closing it will make for the year.
Ayala-led Globe Telecom Inc. has raised enough funds to cover its debt payments next year after it received nearly P10 billion for another round of sale of telco towers.
Globe Telecom Inc. has raised P91 billion from the sale of its telco towers as the company completes the disposal of its third and final batch of passive assets.
Published July 9, 2021, 9:31 AM
As the Bayanihan 2 law streamlines the issuance of permits, Globe Telecom signs a partnership with PhilTower Consortium, Inc. (PhilTower) to aggressively ramp up its network rollout in more areas in the National Capital Region (NCR) and Luzon. The partnership aims to install 500 new cell sites within the year.
Globe believes the partnership with PhilTower will boost the company’s response to its customers’ ever-increasing need for better, reliable, and accessible connectivity in the new normal.
“Our partnership with PhilTower will help us accelerate our cell site expansion. Consequently, this will bring better services to Globe subscribers in more locations in the country,” according to Vincent Tempongko, Globe Vice President for Site Acquisition.