PLDT’s 1st closing of sale, leaseback towers deal completed

PLDT Inc. has reported the sale and leaseback of 650 telecommunications towers and associated passive telecommunications infrastructure to Unity Digital Infrastructure Inc. that was announced on Dec. 15, 2022.

The company said the first closing of the transaction was completed on Monday, May 15, 2023, with the sale of 135 telecommunications towers to Unity.

A corresponding cash consideration of P1.9 billion was received by the group. The master services agreement covering the leaseback arrangement for those towers also became effective as of today.

PLDT said it expected to transfer additional towers over the next few months as closing conditions are met, with all transfers expected to be completed in 2023. (PR)