Philippines telecoms operator PLDT reportedly entered talks with edotco and EdgePoint Infrastructure to sell 6,000 towers for up to $1.5 billion.
Bloomberg reported PLDT is looking to sell 3,000 towers to each of the companies, with EdgePoint Infrastructure to acquire sites in the Manila area and edotco towers outside the capital city.
Separate deals are expected to close in the coming days, but sources cautioned agreements could fail to materialise. Private equity companies and other telecoms companies continue to express interest in the infrastructure assets, Bloomberg added.
Edotco is a subsidiary of Malaysia-based Axiata Group.
Singapore-based EdgePoint Infrastructure is owned by Digital Colony and a subsidiary of the Abu Dhabi Investment Authority, which acquired a minority interest for $500 million in 2021.
In January 2019, PLDT backed a government plan to open the country to independent tower companies, with the operator considering sale and leasing options.
Rival Globe Telecom took steps to divest all or part of its tower assets through a separate company in 2018.