Malaysia-based Axiata Group has announced the successful completion of the final phase of tower transfers from PLDT's subsidiaries to its unit in the Philippines. This marks the conclusion of a strategic deal involving the acquisition and leaseback of a total of 2,710 tower sites. The towers involved in the transaction are primarily located in Luzon, Visayas, and Mindanao.
Strategic Tower Transfer
Axiata disclosed that the transfer of 85 sites from Smart Communications and Digitel Mobile Philippines marked the last step in the agreement originally inked with PLDT in 2022. The deal was executed through edotco, which is Axiata's tower unit and ranks among the largest TowerCos globally. Edotco Group operates and manages an extensive portfolio of over 54,000 towers across multiple countries, including Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, Myanmar, and Laos.
Finalizing the Transaction
In an official exchange filing, Axiata stated, "We are pleased to announce that conditions precedent for the Sixth Closing have been fulfilled, and the transfer of 85 sites of Transferred Assets was completed on 8 September 2023. The Sixth Closing constitutes the final transfer of sites under the Proposed Acquisition of PLDT Tower Assets, bringing the cumulative total to 2,710 sites when combined with earlier transfers."
This achievement underscores Axiata's commitment to expanding its telecommunications infrastructure footprint in the Philippines and the broader region.