PLDT sells towers to Unity for P1.9 billion

Integrated telecommunications company PLDT has sold the first batch of 135 of the 650 towers to Unity Digital Infrastructure Inc. (Unity) for P1.9 billion.

Unity is a joint venture telecommunications infrastructure platform by Aboitiz InfraCapital of the Aboitiz Group.

PLDT announced the sale of towers to the Aboitiz-backed firm in December 2022. Along with the tower sale is Smart’s agreement with Unity for the sale and leaseback transactions. Smart will lease back the towers for a period of 10 years at competitive terms as the anchor tenant. 

PLDT completes sale of more than 3,000 towers
PLDT Group achieves 75% closing of landmark sale, leaseback towers deal

The Group announced the sale and leaseback of its almost 6,000 towers for P77 billion to fund expansion projects during an earnings briefing.

Aside from Unity, PLDT also has tower deals with ISOC edotco Towers Inc., a subsidiary of edotco Group, and Comworks Infratech Corp., a subsidiary of EdgePoint.

In the last quarter of 2022, the telco transferred the ownership of a total of 4,435 towers, or 75% to tower companies for the amount of P57.7 billion.

As of Oct. 3, 2022, ownership of a total of 4,435 towers, or 75% of the 5,907 towers covered by the sale and leaseback transaction had been transferred to the tower companies, and a total cash consideration of P57.7 billion received by the Group.