Globe defers plans to sell cell sites

Globe Telecom Inc. has decided to defer its plans to sell its cellular sites, as it said tower companies first need to scale up their operations before this can be reconsidered.

The Ayala-led company has built some 641 cell sites across the country in the first half of 2021, but it said the sites developed during the period were not much, in relation to the partnerships made with seven providers.

“We have paused in terms of looking into selling our towers,” Globe chief finance officer Rizza Maniego-Eala told reporters in a virtual briefing.

Pangilinan-led PLDT Group, Globe’s main rival, said it is now mulling possibilities regarding the towers and talks have been made with a number of international banks for the possible sale of the assets.

Eala said the company started looking into selling towers in February 2018, but this will have to be pushed back.

“Even as we speak, we feel that the tower companies really need to set up their operations properly in the Philippines and also need to scale up,” she said.

“There could be delays on their end, whether it could be regulatory or also caused by the pandemic, but as we speak, as I mentioned, really, the ability to scale for us is not yet there,” she added.

The company targets to install 2,000 new cell sites this year, with a three-pronged strategy for its network upgrades and expansion.

This includes aggressive cell site builds, upgrading sites to 4G/LTE using different frequencies; and expediting the fiberization of Filipino homes across the country.

?Shares in Globe Telecom closed Monday at P1,980.00 apiece, down by P5.00 or 0.25% from last Friday’s finish of P1,985.00.—AOL, GMA News