Connect with us

Hi, what are you looking for?

News

EdgePoint keen on buying more towers 

TELECOMMUNICATIONS infrastructure company EdgePoint Infrastructure on Thursday said it is keen on buying more telecom towers that PLDT, Inc. and Globe Telecom, Inc. may sell in the future.

“I think we are always open to acquiring more,” EdgePoint Chief Executive Officer Suresh Sidhu said during a briefing when asked to comment on the two companies’ plan to sell more of their tower assets.

He said the company also focuses on building its own towers in the Philippines.

“We are in discussion with operators. We expect to build some by middle of next year.”

EdgePoint is headquartered in Singapore with operations in Malaysia, Indonesia, and the Philippines.

In April, Smart Communications, Inc. and Digitel Mobile Philippines, Inc. announced that they had signed sale and purchase deals in connection with the sale 5,907 telecom towers and related passive telecom infrastructure for P77 billion to the subsidiaries of edotco Group and EdgePoint.

Ayala-led Globe has sold 7,059 towers. It recently signed a sale and leaseback deal with Phil-Tower Consortium, Inc. for the telco’s 1,350 towers.

Both Globe and PLDT plan to sell additional telecom towers.

“Our market position as an independent tower company aligns well with the Department of Information and Communications Technology’s common tower policy that seeks to enhance connectivity while easing mobile network operators from the heavy capital expenditure required for building communications towers, allowing them to focus on improving services and reaching more underserved areas,” Mr. Sidhu said.

“The number of internet users in the Philippines has more than tripled in the past decade from 23 million in 2010 to 76 million in 2022, and significant investments are needed to meet the demands of this growth. The Philippines has a dense number of users per tower which affects overall user experience, and the country needs a large number of new towers built to fill this gap,” he added.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

UK pubs missed out on a staggering £155 million summer World Cup boost, new analysis has revealed. The hospitality sector was already among the...

Editor’s Pick

Cornish second home owners are set to pay double in council tax after a proposal which would see the local authority granted powers to...

News

LOCAL STOCKS are expected to move sideways on Friday on tepid market activity as investors wait for the release of November US inflation data...

Editor’s Pick

The UK will build its first new coalmine for three decades at Whitehaven in Cumbria, despite objections locally, across the UK and from around...

News

SPEAKER Martin G. Romualdez during the opening of the 19th Congress at the House of Representatives in Quezon City on July 25. — PHILIPPINE...

News

PHILSTAR FILE PHOTO/ RELEASE JBROS CONSTRUCTION CORP. By Luisa Maria Jacinta C. Jocson, Reporter LOCAL government units (LGUs) face an uphill task in staffing...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.