Globe Telecom Inc. has earned P1.4 billion from its tower deal with Unity Digital Infrastructure, two months after signing the agreement. The telco giant announced on Tuesday that it has transferred 115 out of the 447 towers sold to Unity, accounting for 94 percent ground-based towers and 6 percent rooftop towers in Luzon. The total value of the transaction is P5.4 billion, and Globe has completed 51 percent of its tower deals, generating P49.3 billion and transferring 3,826 tower assets out of the 7,506 sold.
Globe’s partnership with Unity, according to CFO Rizal Maniego-Eala, is aimed at improving customer experience and enhancing operational efficiency. Unity’s collaboration with Globe is a testament to their dedication to bridging the digital divide and promoting digital inclusion in the country, according to Aboitiz InfraCapital President and CEO Cosette Canilao.
Furthermore, Aboitiz has been boosting its investments in the digital sector through tower acquisitions and a foray into the data center space. In the first quarter, Globe’s net income declined by 47 percent to P7.25 billion due to the absence of one-off gains from the sale of its stake in the data center business. However, total revenues for the period increased by 3 percent to P45.03 billion.
Globe has allocated P17.6 billion for capital expenditures for data infrastructure in the first quarter.
—Tyrone Jasper C. Piad INQ
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
