PLDT, the Philippines’ largest fully integrated telco company, might be selling some of its towers soon. This is one way to jack up the group’s financial positioning according to its chairman.
PLDT chairman Manuel V. Pangilinan said, “So in our discussions with the bank, I think they managed to persuade us that if we were to let go of a certain number of our towers that are not strategic to our position, to our maintaining our position as the dominant network in this country, I think that led us to [say] maybe we should be open to it and for so long the financial case is compelling to PLDT.”
MVP confirmed the group is open to the idea of disposing of some of their towers, although much of the data has to be worked out at this stage. MVP said the group is “reluctant” to free up its network assets as they claim PLDT is “the most extensive and best network” in the Philippines. He further added that letting the network assets go will open them to the competition. However, they acknowledge that the move could also bolster the group’s finances.
PLDT’s newest president and CEO Al Panlilio said it would be prudent for the company to look at strategic options, and that they are just at the “early part” of the process. For now, PLDT will work on identifying which towers are open for possible disposal.
PLDT reported a telco core income of P15.2 billion, 10 percent higher compared to the same period in 2020. It is looking to hit P30 billion profit for the full year with expansions in its mobile, fixed internet and enterprise businesses. Recently, PLDT signed a deal with the Department of Education for 1 million SIM cards and corresponding prepaid SIM loads for teachers that will yield P1 billion in revenue. CEO Panlilio said the telecommunications company is now “more prepared” to face the impact of the COVID-19 pandemic.