Malaysia-based Axiata Group completed the transfer of a final tranche of towers from PLDT’s subsidiaries to its unit in the Philippines, closing a deal to acquire and lease back 2,710 sites.
Axiata stated the transfer of 85 sites from Smart Communications and Digital Mobile Philippines was the final of six under a deal signed with PLDT in 2022 by ISOC edotco Towers, the local division of the group’s infrastructure unit edotco.
The towers covered in the deal are situated mostly in Luzon, Visayas and Mindanao. Axiata issued its statement on 8 September.
PLDT also forged an agreement with EdgePoint Infrastructure subsidiary Comworks Infratech covering 2,934 towers.
In December 2022, PLDT closed another deal to offload 650 sites for PHP9.2 billion ($162.4 million) to a local company backed by Aboitiz InfraCapital and Partners Group.